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Spending in the Construction Sector Holds Steady

Posted in Industry News

Spending in the Construction Sector Holds Steady

Over the last few months, the building industry has faced setbacks, namely due to the intense winter weather that’s swept the country. Despite a tough start, builders have widely stated their expectations of significant growth over the coming year. The Department of Commerce recently reported that February’s total construction spending increased 0.1 percent after a decline in January, according to an article from The Wall Street Journal.

Additionally, building outlays were up by about nine percent in the first two months of 2014 from the same time a year ago. While the housing sector of the building industry usually gets the most attention, the nonresidential sector is also doing notably better as well. Spending on private commercial projects is up 13 percent from 2013.

Read the full article from The Wall Street Journal here.

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