By Mark Holan, editorial director, ARTBA
Transportation contractors were busy this summer, with the value of work up across all modes in June, July, and August compared to the same three-month period in 2018.
Contractors performed a record $45.6 billion in transportation and transportation-related construction work, up 12 percent compared to the $40.8 billion put in place June through August 2018, according to the latest data from the U.S. Census Bureau.
“Highway and street pavement work has shown continued strength, with $21.7 billion in work between June and August 2019, compared to $19.6 billion in market activity through the same time period in 2018,” said ARTBA Chief Economist, Dr. Alison Black. “Work is also up for bridge, airport, transit, rail and port/waterway construction.”
ARTBA contractor members can have their say about what was going on by taking a few minutes to answer our third quarter industry conditions survey. The deadline is Oct. 28.
State and local government highway and bridge contract awards continue to show strength in some of the nation’s largest markets, Black said, including California, Florida, Georgia, Minnesota, Texas, and Virginia. Year to date, market activity is up 10 percent across all transportation modes.
Dr. Black will take a deeper dive into market conditions and federal, state, and local funding trends at ARTBA’s four upcoming regional meetings. Learn more and register here.