Nonresidential construction spending fell again in June, according to a new analysis of federal construction spending data the Associated General Contractors of America. Commercial construction—comprising retail, warehouse and farm structures—retreated 2.1 percent year-over-year and 0.2 percent for the month. Association officials urged Congress to quickly pass a new, bipartisan infrastructure measure.
“The 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,” says Stephen E. Sandherr, the association’s chief executive officer. “The federal government has a real opportunity to boost nonresidential construction by passing the bipartisan infrastructure measure as quickly as possible.”
