Construction Spending Increases Slightly in September But is Down by Over $10 Billion for the Year as Public Spending Declines

Construction spending increased by 0.2 percent between August and September but was down 1.3 percent compared to September 2010, AGC reported today in an analysis of new Census Bureau data.  Association officials noted that growing declines in public sector activity continue to offset modest increases in private sector demand for construction. “In less than a year’s time, the public sector has gone from propping up the construction industry to holding,” the AGC’s chief economist, Ken Simonson, said. “Even as local and state budgets continue to contract, the federal government is winding the stimulus and base realignment programs down and cutting billions from key water and facility investment programs." For the full press release, click here.