Construction spending in June declined from May but increased from a year ago as public investment shrank for nearly every type of structure, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned that the significant declines in public-sector construction spending come at a time when much of the nation’s public infrastructure is deteriorating due to age or overuse.
“Construction spending is still increasing overall but growth has become much more uneven across categories in recent months,” said Ken Simonson, the association's chief economist. “There has been a steep decline in public investment in nearly all types of construction over the past year. Private nonresidential construction is still rising overall but generally at slower rates than was occurring a few months ago.”
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