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Single-family, public construction lift spending total; wage costs stall but vary by area

Post Time:Aug 04,2009Classify:Industry NewsView:84

Construction spending in June totaled $966 billion at a seasonally adjusted annual rate, 0.3 percentabove the revised May estimate but 10 percent below the June 2008 level, the Census Bureau reported on Monday [Aug. 3]. Private residential spending was up 0.5percentfor the month but down 30 percent from a year earlier, as new single-family construction increased 2.4percentin June but fell 51percentyear-over-year. New multifamily construction tumbled 7.2percentand 33 percent. Although Census does not separately show residential improvements (additions and major renovations to existing single- and multifamily buildings), an estimate is included in the total, according to an Aug. 4 AGC of America release.

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Source: http://www.glassmagazine.com/news-item/commercial/single-family-public-construction-lift-spending-total-wage-costs-stall-vary-areAuthor:

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