AABP EP Awards 728x90

Construction spending hit a six-year high in 2014

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Construction spending rose in December to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to the Associated General Contractors of America. Association officials said in a release that President Obama’s budget proposal and his suggested infrastructure funding program should help construction spending continue to grow by accelerating debate about the best way to fund repairs to the nation’s aging roads, bridges and other public infrastructure. Construction spending in December was 0.4 percent higher than in November, 2.2 percent higher than in December 2013, and the highest monthly figure since December 2008. The full-year total of $961 billion was up 5.6 percent from 2013 and was the highest full-year amount since 2008.