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Federal money boosts construction spending; more metros gain jobs; input costs rise

Post Time:Oct 04,2010Classify:Industry NewsView:109

Construction spending edged up 0.4 percentin August to $812 billion at a seasonally adjusted annual rate but remained 10percent below the August 2009 level, the Census Bureau reported today [Oct. 1]. The good news was limited to construction, which climbed 2.5 percentfor the month, although it was down 1.0 percentyear-over-year. Based on categories with increases, the public uptick appeared to result from federal funds for stimulus, military base realignment, and hurricane reconstruction and prevention, although Census does not list individual projects or sources of funds, according to an Oct. 1 Data DIGest report.

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