Construction spending held steady in August compared to July but is up nearly five percent for the first eight months of the year compared to same period in 2015, according to an analysis by the Associated General Contractors of America. Association officials said the new spending figures indicates that the industry's recovery may be at risk and said new investments in the nation's aging water systems and other infrastructure could help offset declining spending in certain types of private construction.
“While demand for construction remains robust, it is no longer growing like it was earlier this year,” said Ken Simonson, the association's chief economist. “There is little doubt that new public-sector investments in our aging infrastructure could help reinvigorate demand for construction.”
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