What happened: Highway and bridge construction work ramped up this summer the total value of highway and bridge market activity was $14 billion in July, an increase of 12 percent compared to July 2022. Year to date (see chart), the value of work is $68.3 billion, up 16 percent over 2022.
Why it matters: Current market activity – or the Value of Construction Put in Place – is released by the U.S. Census Bureau and tracks the work completed on a project each month, regardless of the total size of a project or when it was awarded. As projects funded by the federal Infrastructure Investment and Jobs Act are put out to bid and contractors start to work, the value of construction and overall market activity has also increased.
Dig deeper: Detailed U.S. data by mode is available through ARTBA’s Transportation Construction Market Intelligence Service (TCMIS). The TCMIS also includes interactive information on all 50 state transportation budgets.
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