That’s how AGC chief economist Ken Simonson characterized the stimulus bill’s infrastructure spending thus far in his report on nonresidential construction today. From June to July public nonresidential construction slipped 0.8 percent. Private nonresidential construction fell 1.2 percent following a 2.2 percent decline the month before. This marks the fifth straight monthly decline in private nonres. Simonson also observed that the stimulus funds aren’t even fully replacing the cutbacks made in state and local funds due to the recession.

Here’s a full look at the data from the Census Bureau.

advertisement

Related Reads

• To finance infrastructure feds should sell land, bonds
• Caterpillar shares fall after analyst downgrades stock due to falling oil prices
• AASHTO: Annual road investment of $120 billion needed to keep up with demand
• Congress passes $1.1 trillion spending bill; cuts $5 billion from federal construction accounts
• Alabama has no plans to raise gas tax; state will rely on next year’s bond issue for road projects

From our partners

High-flow hydraulic system benefits

Understanding the benefits of high-flow hydraulic systems Skid steer owners rarely use…

Read On

Presented By:

Vail Products

Read More