Feb. 3, 2015: Overall Construction Spending Ends 2014 on High Note
Public Outlays Turn Positive, Adding to Strength in Private Segments
ARLINGTON, Va. — Construction spending rose in December 2014 to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to an analysis of construction data by the Associated General Contractors of America (AGC).
“For the first time in nearly a decade there was growth in all three major construction segments — public, private nonresidential, and residential,” said Ken Simonson, the association’s chief economist. “If the president and Congress can work out a way to pay for long-term investments in our aging infrastructure, there is a good chance this pattern will repeat in 2015.”