Construction Spending Reaches Highest Level Since 2008

Construction spending increased 2.2% in April, the highest level since 2008, according to the Commerce Department. The monthly increase was the largest since May 2012 and calculates to annualized construction spending of $1 trillion. Private construction increased 1.8%. Private nonresidential construction increased 3.1%, and public construction increased 3.3%. 

Source: A June 1 report by the Reuters news service which was included in the June 2 AGC SmartBrief e-newsletter. Read more.

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