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Construction Spending Slips 0.1 Percent In April As Decreases In Public Segments Offset Rise In Homebuilding, Manufacturing, Power Projects

 

Total construction spending inched down from March to April with declines in public projects and a mixed pattern among private residential and nonresidential categories, according to an analysis of a new government report that the Associated General Contractors of America released today. Association officials noted that construction spending levels remain well above where they were a year ago and that most firms continue to struggle to find enough qualified workers to hire.

鈥淥verall spending slipped despite upturns in manufacturing and power construction and a slight pickup in single-family homebuilding,鈥 said Ken Simonson, the association鈥檚 chief economist. 鈥淢ost public segments continued a seesaw pattern, with decreases in April following gains in other recent months.鈥

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