AGC Economist Ken Simonson Analyzes Surprising New Construction Spending Data

The chief economist for the Associated General Contractors of America, Ken Simonson, responded to new data released by the U.S. Census Bureau showing a surprise uptick in nonresidential construction spending this past March.  Ken explained that construction can be a lagging indicator and that much of the uptick was from a series of mega energy and manufacturing projects begun before the economic downturn.  He added that while the stimulus will help a great deal, conditions in the private construction market are likely to further deteriorate this year.  To read about Ken's analysis, click here for the Business Journals' story:  http://www.bizjournals.com/dallas/stories/2009/05/04/daily8.html, or click here for the story in the St. Louis Post-Dispatch: http://www.stltoday.com/blogzone/building-blocks/uncategorized/2009/05/economist-construction-industry-in-for-rough-year/