Total construction spending increased by 0.2 percent for the month of September and by 10.9 percent for the year as nonresidential construction activity now outpaces residential construction, according to an analysis the Associated General Contractors of America released today of federal spending data. Association officials noted that gains in public sector transportation construction have lagged other fast-growing segments as officials grapple with Buy America and other new regulatory requirements.
“Demand remains strong for a range of nonresidential construction segments despite supply chain challenges and rising interest rates,” said Stephen E. Sandherr, the association’s chief executive officer. “But transportation infrastructure investments would likely have been higher if it wasn’t for the inevitable regulatory confusion that comes with the new Buy America requirements.”
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