Total construction spending inched down from March to April with declines in public projects and a mixed pattern among private residential and nonresidential categories, according to an analysis of a new government report that the Associated General Contractors of America released today. Association officials noted that construction spending levels remain well above where they were a year ago and that most firms continue to struggle to find enough qualified workers to hire.
“Overall spending slipped despite upturns in manufacturing and power construction and a slight pickup in single-family homebuilding,” said Ken Simonson, the association’s chief economist. “Most public segments continued a seesaw pattern, with decreases in April following gains in other recent months.”
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