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Phyllis Harden

Legislative & Special Projects, Pine Bluff Sand & Gravel
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News

Economics

October 5, 2009
The rate of decline in overall employment is gradually slowing. First-time unemployment claims dropped in mid-September, suggesting that September employment losses will shrink again, as they did in August.
September 22, 2009
"Reports from the 12 Federal Reserve Districts indicate that economic activity continued to stabilize in July and August," the Fed reported on September 9 in the latest Beige Book, a summary of informal soundings of business conditions. The districts are referred to by the name of their headquarters city. "Relative to the last report, Dallas indicated that economic activity had firmed, while Boston, Cleveland, Philadelphia, Richmond, and San Francisco mentioned signs of improvement.
September 11, 2009
An article in the San Antonio Express-News covered AGC chief economist Ken Simonson's recent visit to the Federal Reserve Bank of Dallas.  During his presentation, Simonson announced he expected new single-family housing construction to rise this year, but could not make the same prediction for multifamily construction.
September 10, 2009
AGC members continue to report that developers are unable to get loans for commercial real-estate (CRE) projects, and many members have had their own lines of credit tightened or canceled. These observations match the latest survey of senior loan officers by the Federal Reserve, which the Fed summarized on August 17.
September 1, 2009
Downturns in multi-family construction and both private and public nonresidential construction swamped a strong upswing in single-family homebuilding in July, according to AGC's analysis of federal construction spending data released Tuesday by the U.S. Census Bureau.
August 19, 2009
The amount of construction work funded by the American Recovery and Reinvestment Act (ARRA, popularly called the stimulus legislation) varies greatly by state and program. Two weeks ago, I spoke on successive days to state transportation officials in Colorado, New Mexico and Maine. They said they had awarded contracts covering 69%, 80% and 100% of their respective DOT allocations. But, of course, those percentages don't necessarily correspond to amounts paid out or even work started. Other states are far behind those three in even holding bid-letting days to pick contractors.
July 28, 2009
Construction employment declined in all but 19 communities nationwide this June as compared to June-2008, according to a new analysis of metropolitan-area employment data released by AGC.
July 13, 2009
Developer-financed construction is shriveling. The latest monthly figures from the Census Bureau on construction spending show big downturns in May from April and from May 2008 in categories that typically rely heavily on bank financing. (The percentages are calculated from numbers that are seasonally adjusted, to account for normal month-to-month variation.)
July 6, 2009
In light of recent job loss figures, AGC's chief executive officer Steve Sandherr urged the administration and Congress to stimulate new commercial lending and hasten non-transportation stimulus construction projects that have yet to begin.
June 16, 2009
AGC's chief economist Ken Simonson was quoted in Tuesday's New York Times.  Simonson commented on the effect of the recession and interest rates on the multi-family housing industry.

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