10 of the World's Most Expensive Megaprojects
From the Top Down: Ending Sexual Harassment in the Construction Industry
Spending Up for the Month, Down for the Year
Friday Funny: "Raising the Roof"
Tracking Technology Helps Construction Companies Save Money, Improve Safety
What The ‘Tech’ Just Happened to Meetings?
Weekly Grind: The Future of Construction Technology Across the Country
Friday Funny: It's Just Ergonomics
By Martin crutsinger, ap economics writer
December 1, 2016
WASHINGTON (AP) — U.S. builders boosted spending on construction projects by a modest amount in October, helped by big gains in spending on home construction and the biggest increase in government projects in 10 months.
Construction spending rose 0.5 percent in October following no change in September, the Commerce Department reported Thursday.
Home construction increased 1.6 percent, helping offset a 2.1 percent drop in spending on nonresidential projects. Outlays for construction of offices, hotels and shopping centers all declined. Spending on government projects jumped 2.8 percent, the biggest increase since last December, as federal and state and local spending all rose.
Financial markets have rallied since the election of Donald Trump, reflecting in part enthusiasm over his vows to increase spending on projects to repair and replace the country's aging infrastructure.
Despite the advance in government projects, spending in the category is still down 0.6 percent from a year ago. Public projects have been squeezed for a number of years as governments at all levels have struggled to deal with falling revenues following the 2007-2009 recession, the worst downturn in seven decades.
Trump's plans for increased infrastructure are expected to be revealed when he sends his first budget to Congress early next year.
President Barack Obama sought for a number of years to get Congress to approve higher infrastructure spending, but he was blocked by opposition from Republicans who complained that the projects would increase budget deficits. Democrats in Congress have already expressed support for Trump's proposals to boost constructionspending. His ideas, however, may still face opposition from Republicans worried about high deficits.
The October rise in spending pushed overall construction spending to a seasonally adjusted annual rate of $1.17 trillion, up 3.4 percent from a year ago.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Daily Drill: H-2B and a Millennial Dream Home
That master strategist Sun Tzu knew a thing or two about out-thinking the competition. Turns out his focus on strategy over strength can be applied to gaining an edge in the construction industry. ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
As an architectural statement, the campus is a monument both to Apple’s corporate success and centrality to the global tech culture. At 176 acres, ... Read More
August 8, 2016
"Some of the cool things that we're doing on job sites today are with Rovers and the alive platform. Alive is that software platform that glues to... Read More
The National Association of Women in Construction has a new executive vice president. This change marks a “brand new day and brand new way” for the... Read More
Every construction business owner can learn a lot from competitors. But merely copying them won't do. You will just always stay one step behind. So... Read More
We've selected eight women from all walks of life to ask them one common question: what advice would you give women who want to enter the construct... Read More