Construction Spending at Highest Level since Great Recession

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Construction Spending at an 8 year high | F.E. Moran

Construction spending in the United States is at its highest level in eight years, the Commerce Department reported.  In 2015, construction spending reached $1.097 trillion, which is 10.7% higher than 2014's spending at $993.4 billion.  It is the highest level of construction spending since 2007.  At that time, spending was at $1.148 trillion.

The bulk of last year's expenditures were from the private sector, which was 70% of construction spending.  Private construction reached $806.1 billion, 12.3% above 2014.  Private construction includes new homes, apartments, and private non-residential projects.

Public construction saw an increase as well.  In 2015, public construction spending reached $291.2 billion - 5.6% higher than 2014.  Education construction reached $67.3 billion.  Lastly, highway construction reached $89.6 billion.

Read the whole story at Forbes.com. 

 

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