U.S. construction spending hits highest level since 2009

09/3/2013 | American City Business Journals · Yahoo

Construction spending rose 0.6% in July due to strong gains from the housing and nonresidential sectors. Residential spending will remain strong, but "[p]rivate nonresidential spending will be very uneven and public construction spending remains threatened," said Ken Simonson, chief economist for the Associated General Contractors of America. It was the strongest month for construction spending since 2009, with total construction activity increasing to a seasonally adjusted annual rate of $900.8 billion, according to the Commerce Department.

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American City Business Journals · Yahoo

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