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Construction Spending Hits Record High

Construction spending hit a seasonally adjusted annual rate of a record $1.329 trillion and grew 5.5 percent for nine months of 2018 combined, with continued year-to-date gains for major public and private categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials said that while demand for construction should remain strong for the next several months, the construction sector could be impacted by new trade tariffs, continues workforce shortages and higher interest rates.

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New TRIP Report Highlights Deteriorated New York Infrastructure

Roads and bridges that are deteriorated, congested or lack some desirable safety features cost New York drivers $24.8 billion per year – as much as $2,768 per driver – due to higher vehicle operating costs, traffic crashes and congestion-related delays. 

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PCA: Cement Consumption Growth to Falter Over Next Two Years

The Portland Cement Association (PCA) Market Intelligence Group forecast for cement consumption over the next two years, shows less growth compared with 2018. This year’s rate of change is 2.9 percent; growth recedes to 2.6 percent in 2019 and to 1.6 percent in 2020. 

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NRP Aggregates Business Flat in Third Quarter

Natural Resource Partners L.P. (NRP) reported third-quarter 2018 net income of $29 million, compared to $26 million in the third quarter of 2017. For year-to-date, the company is reporting net income of $92 million, compared to $58 million in 2017.

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