Construction spending in the United States surged in April to the highest level in 6-1/2 years. This new high since November of 2008 was fueled by the development of new office buildings, hotels, shopping centers and government projects. Economists consider a rebound in construction as a sign of a stronger economy since it was one of the hardest hit sectors in 2008. This trend is also similar to the construction spending that has taken place in Philadelphia over the last several months.
More information on construction spending and the economy can be found at Reuters.
More information on Philadelphia based construction projects can be found on our blog.