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AGC: Credit freeze, economic slump chill construction

Post Time:Nov 03,2008Classify:Industry NewsView:173

"Nonresidential construction is on the verge of a potentially long slide," warned Ken Simonson, chief economist, Associated General Contractors of America, Washington, D.C., in a Nov. 3 Data DIGest article. Simonson's comments followed reports from the Census Bureau on construction spending in September and the National Association for Business Economics, Washington, D.C.,on third-quarter and expected activity.

"The Census figures show nonresidential spending eked out a gain in September of 0.1 percent," Simonson noted. "But private nonresidential spending was down nearly 1 percent from its high-water mark in June, while public spending tumbled 1.3 percent in September alone.

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Source: http://www.glassmagazine.com/news-item/commercial/agc-credit-freeze-economic-slump-chill-constructionAuthor:

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