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Construction Spending Hits 10-year High; Apartments and Warehouses Remain Hot Construction spending totaled $1.182 trillion at a seasonally adjusted annual rate in November, an increase of 0.9% from the October rate and 4.1% year-over-year (y/y) from the November 2015 rate, the Census Bureau reported on Tuesday.
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The transit system has hit some speed bumps as it works to implement a new model of electric bus that will be its fleet for the Red Line, the rapid-transit route that begins service Labor Day weekend.
In a web-only exclusive, MBJ is providing data related to our print edition list on major projects under construction or completed in 2017 from the top five general contractors on the list.
Other construction inputs that rose sharply in price from March 2017 to March 2018 include diesel fuel, 39.7%; copper and brass mill shapes, 11.2%; gypsum products, 8.4%; and plastic construction products, 5.8%. In addition, concrete and other suppliers announced significant price hikes that were due to take effect in April.
Construction Spending Reaches Record High With 0.4 Percent Pickup in May. but the next largest segment – commercial construction (comprising retail, warehouse and farm buildings) had a gain.