Skanska USA CEO: Municipalities Finding Money for New Construction

Cash strapped states are not entirely abandoning new building projects, but raising funds instead through public/private partnerships,.
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Cash strapped states are not entirely abandoning new building projects, but raising funds instead through public/private partnerships, says Michael McNally, CEO of construction giant Skanska USA. Skanska has seen its backlog grow substantially from coast to coast says McNally. He says the energy revolution has really boosted the company's business because it is bringing manufacturing back to the United States. McNally says labor costs are rising but materials costs have been flat because they are driven by Chinese demand. Finally, he says pent-up demand from the harsh winter weather will be seen in Q2 results and bookings.