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    Analysis

    July 2, 2021

    Construction Spending Erodes Further in May

    Written by David Schollaert

    Supply chain disruptions, rising materials prices and labor shortages continued to slow construction spending in May, reported the Associated General Contractors of America (AGC). Officials with the association called on the Biden administration to remove tariffs on key construction materials, allow unemployment supplements that are keeping people out of the workforce to expire and take steps to address supply chain backups.

    “Many construction firms would likely be even busier if only they could find materials for their projects and workers for their teams,” said Stephen Sandherr, AGC’s CEO. “Ending a program that is basically paying people not to work will help, especially if the administration also removes tariffs that are driving prices up on key construction materials.”

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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