Construction Spending Rebounds in February with Private, Public Gains

Construction spending rebounded in February with gains from depressed January levels in residential, private nonresidential and public investment, according to an analysis of new Census Bureau data by AGC of America. Association officials cautioned that the rise in public investment was likely to be short-lived and urged policy makers in Washington to make infrastructure investment a priority. “It is encouraging to see growth in both monthly and year-over-year totals in private residential and nonresidential construction spending,” said Ken Simonson, the association's chief economist. “There are increasing signs that 2013 will be a good year for a wide variety of project types.” Read the full press release here.