Construction spending slid 0.3 percent from May to June as declines in single-family homebuilding and major public project types outweighed selective gains in private nonresidential categories, according to an analysis of a new government report that the Associated General Contractors of America released today. Association officials urged the Biden administration to explore ways to ease regulatory barriers that are preventing work from starting on vital infrastructure projects.
“Although overall outlays fell for the second month in a row, there were enough bright spots to suggest construction will continue growing, on balance,” said Ken Simonson, the association’s chief economist. “In particular, data centers, manufacturing, and several infrastructure segments are expanding.”
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