Construction spending was unchanged from March to April, with mixed results by project type for the month and for the year to date, according to an analysis today by the Associated General Contractors of America of new federal spending data. Association officials warned that tariffs and countermeasures by U.S. trading partners are adding costs and uncertainty to construction projects and are potentially reducing demand for numerous types of projects.
“Overall spending was flat in April, but that masks significant differences among the various construction sectors for both the latest month and the first four months of 2019 combined,” said Ken Simonson, the association’s chief economist. “The year-to-date totals, which are a more reliable indicator of underlying trends than are initial monthly estimates, show activity is still increasing for most project types other than single-family homebuilding.”
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