Nonresidential Construction Slides in July

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. "We know from contractors' reports that stimulus money is beginning to flow, but what should be a torrent by now is only a trickle in most categories," said Ken Simonson, chief economist for the Associated General Contractors of America. Read more comments on the data from Simonson here.  He was also quoted in an Associated Press article on the same topic, as well as the Puget Sound Business Journal and California Real Estate Journal. For more information, contact Ken Simonson at (703) 837-5313 or simonsonk@agc.org.