Transportation construction contractors did more work in February 2014 compared to the same month in previous years, according to the latest Value of Construction Put in Place data from the U.S. Census Bureau. While the market uptick is welcome news, the real value of highway work was still below pre-recession levels. Highway contractors completed just over $2.1 billion in ongoing construction work in February 2014, compared to $1.8 billion in February 2013.
Construction activity in the bridge market was $1.6 billion, up 5 percent in February 2014 compared to February 2013.
Other modes also showed growth in February. The real value of construction work on railroad projects was up 7 percent while the value of subway and light rail construction activity for February 2014 showed flat growth compared to February 2013. Airport work was down 11 percent. Due to some large ongoing projects, the real value of construction work for ports and waterways was up 23 percent in February 2014 compared to February 2013.
The overall market in 2014 will depend on a variety of factors, including uncertainty over the federal aid program and the Highway Trust Fund, as well as the continued recovery in state and local finances and the U.S. economy.
Detailed data by month and mode is available as part of ARTBA’s market subscription reports.