Construction spending on the rise
Construction spending increased 1.4 percent in October to an annualized rate of $872.1 billion, its highest level in 37 months.
The U.S. Census Bureau of the Department of Commerce said the October figure is 9.6 percent above the October 2011 estimate of $795.7 billion.
During the first 10 months of this year, construction spending amounted to $707.4 billion, 9.3 percent above the $646.9 billion for the same period in 2011.
Spending on private construction was at a seasonally adjusted annual rate of $592.1 billion, 1.6 percent above the revised September estimate of $582.7 billion. The annualized rate of public construction spending was $280.1 billion, 0.8 percent above the revised September estimate.
An analysis of new federal data released today by the Associated General Contractors of America warned that the fiscal cliff imperils future improvement in both public and private spending.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
