Heavy construction spending increased 0.9% in June and the May gain was boosted to 1.7% with the inclusion of several new power plant projects. These gains are counter to the current declining trend in this market and are unlikely to persist, says RCD. Overall, heavy spending is expected to be sluggish through 2012 but will recover to the 2009 level next year. Congress appears committed to maintain but not to increase highway funding through 2012.
Source: Reed Construction Data