Construction Spending Continues Year-Over-Year Growth Despite Dip in July

Construction spending in July maintained consistent year-over-year growth despite a pullback from the June peak, according to an analysis of new federal data released today by the Associated General Contractors of America.  Association officials said they expect the disparity between private and public construction to persist unless Washington acts to fix infrastructure funding challenges and pass long-delayed measures. “The July spending numbers send a very mixed message,” said Ken Simonson, the association’s chief economist. “Construction of new homes, apartments and most private nonresidential structures appears to be driving gains in construction activity even as the public sector continues to drag on broader sector growth.” Read the full press release here. The news was covered by including local radio and TV coverage, Reno Gazette Journal, Boston Business Journal, Central New York Business Journal, Dayton Business Journal, International Construction and Custom Home Building.