ARRA spending continues to decline

Source: Portland Cement Association, Skokie, Ill.

According to a recent PCA report, 77.3 percent of total American Recovery and Reinvestment Act highway funds have been dispersed through July, compared to 75.6 percent in June. July highway stimulus spending was $452 million, a 31 percent decrease from June’s spending rate. Against year-ago levels, July’s spending volumes declined 64 percent. Spending has averaged $529 million in the last three months compared to a $1.168 billion average for the same period last year.

Eighteen states have spent more than 90 percent of their funds, compared to seven at the start of the year. The five largest cement-consuming states have 31.5 percent of their stimulus funds available—down from 33.1 percent last month. Highway stimulus spending in 2010 amounted to $11.4 billion, double that of 2009. PCA expects roughly $7.7 billion to be spent in 2011 with the remaining $2.3 billion to be carried over into 2012.

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