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    Analysis

    July 6, 2023

    Construction Spending Up in May: AGC

    Written by Becca Moczygemba

    Total US construction spending increased in May by 0.9% from April and 2.4%  year-over-year (YoY), according to the Associated General Contractors of America (AGC).

    construction“The data for May show there has been no letup in the feverish pace of manufacturing construction but a very mixed picture for other project types,” said Ken Simonson, chief economist of AGC. “There have been strong year-over-year increases in most categories, but it remains to be seen if the market is now cooling.”

    Becca Moczygemba

    Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.

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