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Monday, May 1, 2017
Construction spending is at record levels for the second straight month in March and is up 4.9 percent for the first three months of year compared to the same period in 2016, despite dipping slightly compared to February, according to an analysis by the Associated General Contractors of America. Association officials said many firms are eager to see details of the President’s pending infrastructure plan, which should boost construction demand.
“Construction spending totals during the past two months are at the highest levels we have ever seen,” said Stephen E. Sandherr, the association’s chief executive officer. “If the winter weather hadn’t been so mild in much of the country, we would have seen less growth in February and a higher rate of growth in March, but overall demand remains quite robust.”
Construction spending in March totaled $1.218 trillion at a seasonally adjusted annual rate, essentially unchanged from the month before, Sandherr said. He added that the year-to-date increase of 4.9 percent for January through March 2017, compared with the same months of 2016, shows demand for construction continues to experience robust growth. Read More…. Construction Spending Hits Record Levels dated May 1 2017