Construction Spending Hits Record Levels for Second Month in a Row, Is Up by 4.9 Percent for the First Three Months of the Year
Construction spending is at record levels for the second straight month in March and is up 4.9 percent for the first three months of year compared to the same period in 2016, despite dipping slightly compared to February, according to an analysis by the Associated General Contractors of America. Association officials said many firms are eager to see details of the President's pending infrastructure plan, which should boost construction demand. "Construction spending totals during the past two months are at the highest levels we have ever seen," said Stephen E. Sandherr, the association's chief executive officer. "If the winter weather hadn't been so mild in much of the country, we would have seen less growth in February and a higher rate of growth in March, but overall demand remains quite robust."
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