June’s construction spending of $1.065 trillion is 12 percent higher than the rate in June 2014, according to an analysis by the Associated General Contractors of America (AGC) — the fastest year-over-year seasonally adjusted increase since 2006.
“Spending rose strongly in June from a year ago for all major construction categories—private nonresidential, residential and public,” said Ken Simonson, the association’s chief economist. “Although the initial estimate for June showed minimal growth from May, totals for May and April were revised upward by large amounts.”
Association CEO Stephen E. Sandherr warned that such gains may not continue unless all levels of government increase their efforts to train workers form high-paying construction jobs.
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