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Economics

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.
June 12, 2009
AGC released employment data last week that underscored the need for speedy distribution of stimulus funds.  According to AGC's chief economist Ken Simonson, construction employment fell in 288 of the nation's largest 311 metro areas from April 2008 to April 2009.
June 12, 2009
More and more construction firms report winning stimulus contracts that are enabling them to add employees and avoid expected layoffs. But the stimulus money is not enough to overcome the fall in private and state and local-funded projects. Meanwhile, the Buy American provision in the American Recovery and Reinvestment Act (ARRA) threatens to undercut the job gains.
June 4, 2009
On May 19, I had the privilege, along with a handful of other members of the National Association for Business Economics, to brief Federal Reserve Chairman Ben Bernanke and Governor Dan Tarullo on the state of the economy. Thanks to the feedback many of the 12,000 subscribers to the Data DIGest have provided to my "Questions of the Week," I was able to report that some of you are now receiving some stimulus contracts and have seen an improvement in the state and local bond market, but no loosening of credit for developer-financed construction projects.
May 13, 2009
AGC's chief economist Ken Simonson explained in a statement that the recent Associated Press story on stimulus transportation funds fails to acknowledge several unique facts about the construction industry.  The AP story does not consider that construction jobs are not site-specific and that workers will spend income in their hometown, among other factors.
May 1, 2009
In a recent interview with Reuters News, AGC's chief economist Ken Simonson said that he expected growth in the second quarter due to a "sharp drop in business inventories."  The article, ISRI-Analysts see US economy bottoming, vary on how long, presented the views of several leading economists, and Simonson's outlook was the most positive.
April 3, 2009
It is growing more likely that real (inflation-adjusted) gross domestic product (GDP) will rise slightly in the quarter that began on April 1 from the dismal levels of the first quarter. The growth is likely to pick up gradually through the rest of the year. But it will be very uneven, unlike the downturn, which affected all sectors.
March 19, 2009
AGC chief economist Ken Simonson spoke to Reuters reporters regarding construction job loss, which he expects to remain negative until the end of this year. Read the article here.
March 5, 2009
The San Diego Union-Tribune today covered AGC's 90th Annual Convention, which will close in San Diego on Saturday. In the article, AGC's chief economist Ken Simonson commented on the state of the construction industry and predicted a three to nine percent drop in nonresidential construction spending. Read the article here.

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