Construction Data Company reports that through June construction spending topped $1 trillion for the fourth consecutive month.June of this year was up 12% over June of 2014. So far construction spending for the first half of 2015 is 8% higher than the same period in 2014.
While private construction leveled off slightly in June, public construction spending picked up to cover the difference. All in all not a bad result.
One wonders if inclement rainy weather in May-June in many parts of the country caused the leveling off? Certainly jobs were drastically slowed as the rains fell.
Construction Spending Forecast
Year to date we’ve had seven consecutive months of increased construction spending. Construction Data forecasts 2015 to show the best performance since the recession.
Next we enter an election year. What will come our way? Sometimes we see economic improvements as the party in control attempts to influence the electorate. Will the Obama administration try to help Democrats via increased government spending? Time will tell.
