Construction Spending Level Edges Higher in April

Total construction spending registered a small gain in April but showed very mixed patterns among major segments, according to an analysis of new Census Bureau data by AGC.  Association officials cautioned that a surge in certain project types and regions could leave the industry short of workers even while overall unemployment remains high. “The report underscores patterns that have prevailed for several months: surging home and apartment construction, volatile private nonresidential activity and shrinking public investment,” said Ken Simonson, the association's chief economist.  “This uneven result is leading to selected materials cost increases and localized reports of worker shortages despite continuing hard times for many contractors and workers.” Read full press release here.