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Public projects fuel construction spending growth

November 2, 2023

The largest nonresidential segments showed mixed results from August to September, according to the Associated General Contractors of America construction spending report.

Commercial construction, which includes warehouse and retail projects, increased 0.7% in September, noted the AGC report. Meanwhile, investment in power, oil and gas projects climbed 0.9%, while spending on education projects also increased 1.8%.

But manufacturing-related spending dipped 0.4%, while highway and street spending also inched lower by 0.1%, according to the AGC report.

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