Construction Spending Dips in May, But Rises Overall in 2016
Post date
July 06, 2016
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Construction spending decreased in the month of May, but increased overall in 2016 when compared with the first five months of 2015, AGC of America reports. There are still signs that contractors are having difficulties finding enough skilled workers to keep up with the demand, however.
Mild winter weather in many regions early in 2016, followed by extreme rains in some locations in May, has probably distorted monthly spending patterns but shouldn’t mask the robust widespread growth in demand for construction so far this year... It appears there will be plenty of activity in the remainder of 2016—if contractors can find the workers they need.” -Ken Simonson, AGC chief economist