"It is expected that much of the improvement will evolve around transportation projects that will soon get underway, a boom to the economy generally and to the nonresidential construction sector particularly," said Basu. "The fourth quarter should be similarly impacted, perhaps enough to bring the U.S. out of the ongoing recession.

"Indeed, the May construction spending data suggests that the stimulus package has already begun to have noteworthy impacts," said Basu. "Behind manufacturing and power, transportation recorded the third fastest pace of construction spending growth of the 16 nonresidential construction segments monitored by the federal government. One would expect to witness significant construction volume increases in that construction category in the month ahead."