Construction spending increased 0.2% to $1.811 trillion from August to September, the Associated General Contractors of America reported. Compared with September 2021, construction spending was up 10.9%.
“Demand remains strong for a range of nonresidential construction segments despite supply chain challenges and rising interest rates,” AGC’s Stephen E. Sandherr said in a statement.
Spending on private residential construction alone was flat for the month but up 12.7% compared with September 2021.
The full AGC report can be found here.
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