More Positive Data from the Economic Industry
Recent economic data suggests that the construction industry is continuing to pull itself out of the recent economic downturn. For example, the Associated General Contractors of America (the “AGC”), citing a data released by the Census Bureau, is reporting that construction spending increased by 5.9% between November 2012 and November 2013 despite negative growth in public sector construction. The AGC is also reporting that construction employment increased in 211 out of 339 metro areas between November 2012 and November 2013 and that the largest percentage gain occurred in the Steubenville, OH/Weirton, WV area (posting a 29%, or 500 job increase).
This data suggests that the construction industry continues to rebound and paints a positive picture for private sector construction as we start 2014.