Dive summary:
- From February 2012 through this January, states inked bridge and highway contracts worth about 2.7% less than in the same period a year earlier, according to an analysis the American Transportation & Road Builders Association did of McGraw-Hill Dodge data.
- ARTBA says that when inflation and changes in labor and materials are taken into account, the states contracted for $54.3 billion compared with $55.8 billion the year before.
- The organization said awards were up in January, which was good news in what is considered a leading indicator of construction activity, but the drawback was that five states accounted for the jump with several large projects.
From the article:
The real value of highway contract awards is down in 23 states and Washington, D.C., up in 20 states, and within a range of plus or minus 5% percent in seven states. ...