Construction Spending Hits 17-Month High in November

Construction spending totaled $807 billion in November 2011, the highest level since June 2010, as homebuilding, private nonresidential construction and public construction all increased compared to October, AGC reported today in an analysis of new Census Bureau data. Association officials cautioned, however, that public spending will drop even further in 2012 because of delays in enacting needed infrastructure bills and planned cuts to many federal construction programs. Read full press release here. This story was covered by the Minneapolis Star Tribune, Orange County Register, Forbes, Sacramento Business Journal and Business First of Louisville and CoStar.