April Marks a Third Consecutive Month of Total Construction Spending Increases

Published: Jun 4, 2014
April was the third consecutive month in which total construction spending has seen an increase, albeit a modest one. The information comes from “an analysis of Federal Census Bureau data by the Associated General Contractors (AGC).”

The modest increase is due to a mix of strengths and weaknesses in public, private nonresidential and residential spending. According to AGC now is the time for the federal government to spend money on infrastructure to make up for the decreased public sector demand.

April construction spending totaled $954 billion, which is a 0.2 percent increase over the revised February total and a 8.6 percent year-over-year increase.

Private residential construction spending is up 0.1 percent, reaching a six-year high, while “the latest total exceeded the year-ago level by 17 percent.” Private non-residential construction, on the other hand, decreased by 0.1 percent, but increased 5.6 percent over a year ago. Finally, public construction posted an increase of 0.8 percent for April and a 1.2 percent one compared to April 2013.

Read the full article on AGC’s website.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.