Construction spending at seven-year high; worker shortage limits gains

Construction spending hit $1.1 trillion in September, its highest level since March 2008.

That’s according to an analysis by Associated General Contractors of America, which pointed out the number would have been even higher if it weren’t for a shortage of construction workers.

“Overall, demand for construction continues to grow at a very robust rate,” said AGC Chief Economist Ken Simonson. “It appears, however, that many firms performing private nonresidential work could not find enough… …read more