Construction spending increased in January compared to both December and a year ago, with strong gains in private nonresidential and residential construction but mixed results for public spending, according to an analysis of federal spending data the Associated General Contractors of America released today. Association leaders urged Washington officials to speed the award of funds promised by the Bipartisan Infrastructure law.
“Private nonresidential construction, especially for manufacturing plants, has rebounded sharply in recent months, while demand for housing remains strong,” said Ken Simonson, the association’s chief economist. “But public projects have yet to grow consistently.”
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