Figures released by the U.S. Bureau of the Census showed Monday that construction spending by companies in the power industry was the biggest gainer in an overall increase of 5.8 percent since February 2011.
Ken Simonson, chief economist for Associated General Contractors, remarked on the biggest increases coming in the two largest private nonresidential categories – power construction, which includes shale-related activity as well as traditional and renewable electric power (-2.1 percent for the month, +24 percent over 12 months) – and manufacturing (+1.7 percent for the month, +40 percent over 12 months).