Construction Spending Reaches Record High With 0.4 Percent Pickup in May as Residential and Public Investment Offset Dip in Nonresidential Outlays
Associated General Contractors of America | July 11, 2018
Construction spending reached a record level of $1.309 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials warned, however, that continued labor shortages and rising materials costs threaten future growth in demand.