Steel Markets
July 1, 2016
Construction Spending Dips in May but Robust for First Part of Year
Written by Sandy Williams
The Associated General Contractors of America report that construction spending fell 0.8 percent in May to $1.143 trillion. Most of the decline was due to lower spending in private nonresidential construction. The press release from AGC follows:
Construction spending dipped in May but posted strong, broad-based gains for the first five months of 2016 compared to the same period in 2015, according to an analysis by the Associated General Contractors of America. Association officials said the construction spending gains come amid signs that contractors are having an increasingly hard time finding qualified workers to hire.
