Demand for different types of construction continued to diverge in June as residential construction increased for the month and the year while nonresidential construction spending fell again, according to a new analysis of federal construction spending data the Associated General Contractors of America released today. Officials noted the nonresidential declines include a steep drop in spending on highway and street projects and urged Congress to quickly pass a new, bipartisan infrastructure measure.
鈥淭he pandemic has created a tale of two construction industries, a residential market where demand continues to surge and a nonresidential market that is struggling to gain traction,鈥 said Stephen E. Sandherr, the association鈥檚 chief executive officer. 鈥淭he federal government has a real opportunity to boost nonresidential construction by passing the bipartisan infrastructure measure as quickly as possible.鈥
Read more.