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Public sector spending boosts U.S. construction
Wednesday, 05, May 2010


Increases in public sector construction spending, driven by stimulus funds, helped boost total U.S. construction activity by almost $2 billion between February and March.According to an analysis of federal spending figures by the Associated General Contractors of America released Monday, the stimulus has gone from slowing declines in construction spending to contributing to increases.“If it weren’t for public investments in infrastructure and construction, this industry would be in free fall,” said AGCA’s chief economist Ken Simonson.

“Fortunately, the stimulus is now helping rebuild a construction industry devastated by relentless declines in private-sector activity.” Construction spending reached an annualized rate of $847.3 billion, an increase of 0.2 per cent from $845.5 in February.Private sector construction spending still dominates the market, but it declined 0.9 per cent between February and March, from $555.7 to $550.8 billion.



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