Manufacturing Up, Construction Down

The not-so-impressive recovery continues:

A private trade group said Thursday that the manufacturing sector expanded in March at its strongest pace since July 2004, but the Commerce Department reported that construction spending fell in February to its lowest level since November 2002.

Even in the DC area where the overall economy’s held up relatively well there’s still a ton of vacant office space and plenty of unsold condos. Construction could bounce back from this super-duper-low at any point, but it’s hard for me to imagine it becoming robust for a good long while—the population only grows so fast. Seems like a very good time to think about infrastructure projects to put construction resources to use.