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ARTBA: Transportation Infrastructure Market to Rebound in 2018

The U.S. transportation infrastructure market is anticipated to rebound slightly next year, following a 2.8 percent drop in 2017, according to the American Road & Transportation Builders Association’s (ARTBA) 2018 Transportation Construction Market Forecast.

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TRIP: Many Bridges in Maine Are Structurally Deficient

Fourteen percent of bridges statewide and nine percent of bridges in southern Maine are structurally deficient according to a new report released by TRIP, a Washington, D.C.-based national transportation organization. A bridge is structurally deficient if there is significant deterioration of the bridge deck, supports or other major components. 

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New Home Sales Rate Reaches 10-Year High in October

Sales of newly built, single-family homes in October rose 6.2 percent to a seasonally adjusted annual rate of 685,000 units from a downwardly revised September reading, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest sales pace since October 2007. Year-to-date, new home sales are 8.9 percent above their level over the same period last year.

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Construction Activity Contributes More to GDP

According to an Associated Builders and Contractors (ABC) report, the private construction industry’s value added as a percentage of the nation’s real gross domestic product (GDP) rose to 4 percent in 2016, the highest level since 2009. The report also shows annual growth in real construction spending, which rose 3.5 percent in 2016.

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Construction Spending Ticks Upward

Construction spending in September totaled $1.219 trillion at a seasonally adjusted annual rate, an increase of 0.3 percent from the August total and up 2 percent from a year earlier, according to the U.S. Census Bureau.

Read more: Construction Spending Ticks Upward