ANCHORAGE, Alaska (AP) – A recent report shows spending on construction in Alaska is expected to increase by 10 percent this year, a sign the state’s struggling economy is on the rebound.
The Anchorage Daily News reports that a forecast from the Institute of Social and Economic Research at the University of Alaska shows the value of “on the street” construction spending is expected to be $7.2 billion.
That would be 10 percent more than spending in 2018.
The report, prepared for the Associated General Contractors of Alaska and released last month, says that type of spending refers to the level of activity anticipated in 2019.
On-the-street spending is different from the measure of new contracts, because those can span more than just one year.
Information from: Anchorage Daily News, http://www.adn.com