Construction Spending Continues Growing at Fast Pace


Photo via dolzza.com

Photo via dolzza.com

Although homeownership numbers across the country have been stagnant, the construction industry continues to keep chugging along.

According to a report by the Associated General Contractors of America, construction spending in the month of June recorded the highest year-over-year growth since 2006. The total amount spent in June was $1.065 trillion at a seasonally adjusted rated, a figure that is 12 percent higher than in June 2014. Additionally, the June total was the highest level since July 2008.

According to the report, spending rose in June from a year ago in all major construction categories including private nonresidential, residential and public. Private nonresidential spending rose 15 percent from a year earlier while private residential was up 13 percent from June 2014. Public construction spending also saw an increase, up 8 percent from 12 months earlier. Below, we’ve broken down some of those numbers even more:

  • Manufacturing Construction Spending: Up 62 percent
  • Amusement and Recreation Spending: Up 48 percent
  • Lodging Spending: Up 42 percent
  • Private Office Spending: Up 27 percent
  • Private Multi-Family Spending: Up 24 percent

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