Edward E. Cambas

Construction Spending is at the highest level since the recession began in 2007 Construction spending is on the rise and at the highest levels since 2007 all fueled by home building. The Commerce Department said last week publicly that our construction figures rose to an annually adjusted rate of 1.1 Trillion, and that is greater than any year since 2007. A lot more Americans are buying homes or renting which is lending to a push in residential construction. In addition a lot of Federal spending is on the rise along with state and local governments with the construction of schools, roads and public buildings. This is partially due to an increase in tax revenues, along with an increase in population growth. In the past 12 months, overall spending has increased 13%. The construction of single family homes rose 1% in October, and manufacturers spurred their building expenditures by 3%. A huge windfall was for Federal spending at a growth rate of a 19% increase which is the largest ...