Construction Spending Down In December
While the overall economy shows signs of growth, the news is still bad for the construction industry, where total spending fell by 2.5 percent in December to $788 billion, according to a report from the Associated General Contractors of America.
The lone bright spot for construction workers came in the energy sector. Power construction climbed for the fifth straight month and finished the year 13 percent higher than in December 2009.
Highway and street construction fell 1.6 percent in December, but was up 7.6 percent over the previous year.
The AGCA predicted that 2011 will be a mixed bag. Rental housing, warehouse, hospital and factory construction is expected to pick up, while public school construction, single-family home, retail and office construction are likely to struggle.
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