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Tag: spending: Page 3
Business
U.S. construction spending drops 1.8% in June with losses in nonresidential and government projects
Construction spending in the U.S. fell 1.8% in June for the first drop in one year. Construction spending fell to $950 billion in June from the revised May figure of $967.7 billion. Due to the revision of that figure, what was a 0.1-percent increase in May is now an 0.8-percent increase. Total spending is up 5.5 [âŚ]
August 1, 2014
Roadbuilding
Obama pushes for transportation funding during Key Bridge visit
During his visit to the Key Bridge in Washington, D.C., on Tuesday, President Barack Obama urged Congress to quickly pass a highway bill to prevent Highway Trust Fund (HTF) insolvency, The Hill reports. The HTF is a major source of funding for state and local highway projects. However, money in the fund is projected to [âŚ]
July 1, 2014
Business
U.S. construction spending ticks up 0.1% in May despite dip in home building
Construction spending in the U.S. saw a slight increase in May and for the second straight month the gains are largely due to increases in government projects. Construction spending rose to $956.1 billion in April, an increase of 0.1 percent from the revised April figure of $955.1 billion. Due to the revision of that figure, what [âŚ]
July 1, 2014
Roadbuilding
HTF 101: How the Highway Trust Fund works
The Highway Trust Fund (HTF) is a major talking point in the highway construction industry right now, especially because the major funding source is likely to run out of money in less than three months. HTF insolvency would mean projects across the nation would not be able to begin and 700,000 workers would lose their [âŚ]
June 12, 2014
Roadbuilding
Foxx on highway spending: âWe need to move forwardâ
Transportation Secretary Anthony Foxx on Thursday urged union workers to tell Congress that âwe need to move forwardâ and increase highway spending, USA Today reports. Foxxâs comments came during a labor rally in front of AFL-CIO headquarters in Washington, D.C. The rally was part of Infrastructure Week 2014. During the rally, Foxx urged attendees to [âŚ]
May 18, 2014
Roadbuilding
Jackson County, Michigan to take on more than $29 million in highway projects this summer
Jackson County, Michigan is set to begin $29 million in highway projects in the coming months, MLive reports. Related: VIDEO: Michigan DOT examines Ohio roadbuilding in latest âReality Checkâ update Federal, state, city and county funds are paying for the project, the report notes. Major highway projects in the county include: A $1.4 million joint [âŚ]
May 8, 2014
Roadbuilding
Michigan DOT invests $1.1 million in safety improvements with Midland roundabout
The Michigan Department of Transportation (MDOT) announced on Thursday that it will begin work on a new roundabout in Midland on Monday. Construction was originally scheduled to begin in early April, but the agency said frost delayed the project. Related: Roundabouts And Intersections: Two Traffic Control Devices, Many Options The DOT said the project, located [âŚ]
April 24, 2014
Roadbuilding
Congress passes omnibus bill, includes $71.3 billion for transportation
The $1 trillion government spending bill for 2014 cleared Congress yesterday, providing a total of $71.3 billion for transportation spending. The bill passed in the Senate yesterday with a 72-26 vote, Politico reports. The House approved the bill earlier this week on a vote of 359-67. The bill provides $17.8 billion in discretionary appropriations and [âŚ]
January 17, 2014
Business
U.S. construction spending up 1% in November to nearly 5-year high
Construction spending in the U.S. rose 1 percent in November of last year to reach a nearly 5-year high. Spending reached a seasonally adjusted annual rate of $934.4 billion in November, according to preliminary data released by the Commerce Department. Thatâs the highest rate since May 2009 and 5.9 percent better than November 2012. Octoberâs [âŚ]
January 2, 2014
Business
Construction spending up 0.8% in October to nearly 4 1/2-year high
Construction spending in the U.S. rose 0.8 percent in October to a nearly 4 1/2-year high. Construction spending reached a seasonally adjusted annual rate of $908.4 billion, the highest pace since May 2009, according to preliminary data released by the Commerce Department Monday. Octoberâs total was 5.3 percent better than October 2012. The release of [âŚ]
December 2, 2013
Roadbuilding
With lack of transportation funding, highway contractors shift to other fields
The recent drop in transportation infrastructure spending has some highway contractors moving to other fields such and energy exploration, according to a report from the Wall Street Journal. The highway construction industry lost more than 2 million workers during the recession, reaching a low in January 2011. Since then, the industry has added 399,000 jobs, [âŚ]
November 27, 2013
Business
Construction spending up 0.6% August to 4-1/2-year high
Construction spending in the U.S. rose by 0.6 percent in August to its highest point since April 2009, according to preliminary data from the Commerce Department. According to the data, total construction spending rose to $915 billion in August. The total marks a 7.1-percent improvement over the same time last year. The boost comes thanks [âŚ]
October 22, 2013
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