...Moderate Growth in Construction Spending: Overall U.S. construction spending increased 5.1% to $960.2 billion during 2014, driven by solid growth in private construction expenditures during the year. Fitch Ratings expects further improvement in 2015, with construction spending forecast to advance 7.2% this year. Improved Public Construction Spending: Public construction spending finished the year strong, advancing 4.6% during fourth-quarter 2014 and increasing 1.6% for the year. Highway and street spending improved 6.6% during fourth-quarter 2014 and 3.6% for the year. Fitch expects public construction spending will increase 3% during 2015, with highway and street spending perhaps advancing at a faster pace. Private Construction Growth Moderates in 4Q14: Private construction spending grew 7.0% during 2014, with nonresidential construction spending advancing 10.6% and residential construction increasing 3.8% for the year. The growth in private spending decelerated during the fourth quarter,...
