Construction Spending at Post-Recession Highs
Some good news according to a recent construction spending report, although there are still some areas of concern in it. Private construction rose 8% year-over-year and 1% month-over-month. Private construction consists of facilities/structures built for individuals or corporations that are financed with non-tax payer funds. These numbers are promising, considering the bitterly cold winter season the majority of the county has been facing. In addition, the article reports that construction spending is at post-recession highs, although is still depressed when looking at the overall picture. Overall, this report is welcomed news for our customers at Blades Direct, which consist primarily of those in the construction and contracting industries. As Spring approaches, construction activity is expected to pick up even further, so be sure that you are stocked up on the latest contracting products that we offer, which include diamond blades, saws, concrete mixers, polishing pads, and other related items.
Private Residential Construction Growth Stays High Construction spending rose to a seasonally adjusted annual rate of 930.5 billion in December from a downward-revised $929.9 billion in November. Spending is up 5.3% year-over-year. Private construction rose 1% month-over month, while public construction spending fell 2.3%. Public construction has been coming back recently but is still slightly negative on a year-over-year basis. Year-over-year, private construction is up 8%. Residential construction rose 2.4% month-over-month and is up 17.5% year-over-year. Non-residential construction is down 1.1% year-over-year. [READ MORE]