Congress passed a Fiscal Year (FY) 2019 appropriations bill – which the president is expected to sign into law – that increases military construction spending by 2.4 percent, and boosts Corps of Engineers funding 11 percent, the most Congress has ever appropriated to the agency, according to the Associated General Contractors of America (AGC).
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Construction Spending Rises in July; Highways up 7.1 Percent
The U.S. Census Bureau reported that construction spending in July was estimated at a seasonally adjusted annual rate of $1,315.4 billion, 0.1 percent (±1.5 percent) above the revised June estimate of $1,314.2 billion.
Read MoreFMI Reports on Managing Risk
Construction consultancy FMI issued a report on “Managing Risk in the Digital Age,” based on a survey of participants in the Associated General Contractors of America’s 2018 Surety Bonding and Risk Management Forum.
Read MoreConstruction Spending Dips in June; Highways Up Year-to-Date
The U.S. Census Bureau announced that construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1 percent (±1.0 percent) below the revised May estimate of $1,332.2 billion. The June figure is 6.1 percent (±1.6 percent) above the June 2017estimate of $1,241.3 billion.
Read MoreConstruction Spending Rises; Highway Spending Declines
The U.S. Census Bureau announced that in May 2018, construction spending during May 2018 was estimated at a seasonally adjusted annual rate of $1,309.5 billion, 0.4 percent (±1.3 percent) above the revised April estimate of $1,304.5 billion.
Read MoreConstruction Costs Surge in April on Proposed Tariffs
The cost of goods used in construction jumped in April at the fastest year-over-year rate since 2011, with ongoing increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data. Association…
Read MoreConstruction Spending Dips on Steel Tariffs; Highways Rise
The U.S. Census Bureau reported put-in-place construction statistics for March 2018. Construction spending was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent (±0.8 percent) below the revised February estimate of $1,306.4 billion.
Read MoreConstruction Costs Rise in February
Construction costs escalated in February, driven by price increases for a wide range of building materials including steel and aluminum, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials warned that newly imposed tariffs on those metals will create steeper increases that will squeeze budgets for infrastructure, school districts and commercial projects.
Read MoreIndustry Associations Blast Steel Tariffs
President Trump imposed tariffs on imported steel and aluminum in a move that has been criticized by manufacturing businesses, industry groups and many in Congress. The tariffs, designed to favor U.S. industries over their foreign competitors, contain an initial exemption for Canada and Mexico. The move is seen as a negotiating tactic as the administration seeks broader trade concessions from…
Read MoreConstruction Spending Rises; Highways Up for Month
The U.S. Census Bureau announced that construction spending during December 2017, was estimated at a seasonally adjusted annual rate of $1,253.3 billion, 0.7 percent (±1.0 percent) above the revised November estimate of $1,245.1 billion.
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