Rare Spike in Public Outlays Sends Construction Spending to Four-Year Peak in October

An unusual surge in public construction in October pushed total construction spending to its highest level since May 2009 despite a dip in both private residential and nonresidential activity, according to an analysis of new Census Bureau data by AGC of America. Association officials urged lawmakers in Washington to make water and surface transportation investment a top federal priority. "Nearly every category of public construction increased in October, according to the preliminary Census figures, although for the first 10 months of 2013 combined, public spending continues to lag the 2012 year-to-date total," said Ken Simonson, the association's chief economist. "Meanwhile, residential spending slipped for the month but still showed strong year-to-date gains, and nonresidential spending remained stuck in neutral." Read the full release here.