Construction spending declined for the third month in a row in May as a sharp slowdown in private projects more than offset a rise in public work, according to an analysis by the Associated General Contractors of America of government data released. Association officials warned that the pickup in public projects is likely to reverse soon unless the federal government acts quickly to invest in needed infrastructure and shore up crumbling state and local budgets.
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Last week, Deloitte released a midyear update of its 2020 Engineering & Construction Outlook, noting three distinctive trends the adjacent industries are seeing that will likely influence how work is done for years to come.
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