Construction industry ends 2014 on high, AGC says
Construction spending reached a six-year high in December 2014, according to new figures from the Associated General Contractors of America.
The estimated $982 billion spent pushed the industry to show its first year-over-year gains since 2009, association officials said.
The AGC said President Barack Obama’s recently proposed budget and infrastructure spending should boost the industry.
"For the first time in nearly a decade there was growth in all three major construction segments — public, private nonresidential and residential," said Ken Simonson, the association's chief economist. "If the president and Congress can work out a way to pay for long-term investments in our aging infrastructure, there is a good chance this pattern will repeat in 2015."