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    December 6, 2022

    Construction Spending Stumbles in October: AGC

    Written by David Schollaert

    Total construction spending declined in October driven by widespread decreases in most major categories, reported the Associated General Contractors of America (AGC) on recent government data.

    While residential, commercial, highway, and manufacturing outlays fell during the month, contractors’ struggles to complete projects remain impacted by the lack of laborers. Open positions at the end of October topped hires for the month, the report said.

    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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