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Federal Contract Spending Reaches Its Highest Level Ever in Fiscal 2019, Marking 4 Straight Years of Growth
Government Executive: Federal contract spending grew for the fourth year in a row to reach $567 billion in fiscal 2019, its highest level yet and a 6% increase over the previous year, according to newly released data. Spending is expected to exceed $600 billion in fiscal 2020, without even including spending on economic stimulus funds in the wake of the novel coronavirus pandemic.
The data, compiled by Bloomberg Government, encompasses prime and unclassified contract spending. Bloomberg released the findings in the ninth annual BGOV200 report, which ranks the top 200 federal contractors. The report analyzes market trends, contractors’ performance and other dynamics among 92 federal agencies in 20 purchasing categories during fiscal 2019.
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