July 21, 2020 – Ken Simonson, economist for the Associated General Contractors of America (AGC), said that most states added construction jobs through mid-June, a promising sign. “The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country,” the Federal Reserve reported in the latest “Beige Book,” a summary of informal surveys of…
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Construction Spending Up Through First Five Months of 2020
The U.S. Census Bureau reported that construction spending during May 2020 was estimated at a seasonally adjusted annual rate of $1,356.4 billion, 2.1% (±1.0%) below the revised April estimate of $1,386.1 billion. The May figure is 0.3% (±1.5%) above the May 2019 estimate of $1,352.9 billion.
Read MoreImproved Economic Metrics
June 23, 2020 – According to Ken Simonson, the Associated General Contractors of America’s chief economist, the Census Bureau released the results of its seventh Small Business Pulse Survey, with responses from June 7 to 13, that “is intended to provide crucial weekly data on the impact of the COVID-19 crisis on the nation’s businesses.” Again, there was modest improvement in several metrics…
Read MoreCensus Pulse Survey Finds Modest Improvements
June 15, 2020 – According to Ken Simonson, Associated General Contractors of America chief economist, the Census Bureau released the results of its sixth Small Business Pulse Survey, with responses from May 31 to June 6, that “is intended to provide crucial weekly data on the impact of the COVID-19 crisis on the nation’s businesses.” There was modest improvement in several metrics for construction…
Read MoreConstruction Spending Tumbles in April; Highways Down
The U.S. Census Bureau announced that construction spending during April 2020 was estimated at a seasonally adjusted annual rate of $1,346.2 billion, 2.9% (±0.8%) below the revised March estimate of $1,386.6 billion.
Read MoreAGC Economic Update
May 12, 2020 – According to Associated General Contractors (AGC) of America’s Economist Ken Simonson, construction technology firm Procore released an analysis of the decline in construction work hours since March 1 by week, state, project type and contractor revenue size, based on hours tracked by Procore clients. Hours totaled 14.0 million (representing roughly 400,000 employees) during the week of March 1. The data shows…
Read MoreMarch Construction Spending Holds Steady
The U.S. Census Bureau reported that construction spending during March 2020 was estimated at a seasonally adjusted annual rate of $1,360.5 billion, 0.9% (±0.8%) above the revised February estimate of $1,348.4 billion. The March figure is 4.7% (±1.3%) above the March 2019 estimate of $1,299.1 billion.
Read MoreImpact on Construction
April 7, 2020 – According to Associated General Contractors of America (AGC) chief economist Ken Simonson, once again last week, contractors reported more widespread impacts of the coronavirus pandemic on construction. AGC’s third weekly online survey, conducted March 30-April 2, drew 1,296 respondents, of whom 55% (up from 39% in the March 23-26 survey) reported that an owner (including a public owner regarding its own projects) had…
Read MoreFebruary Construction Spending Ticks Downward
The U.S. Census Bureau reported that total construction spending during February 2020 was estimated at a seasonally adjusted annual rate of $1,366.7 billion, 1.3% (±0.8%) below the revised January estimate of $1,384.5 billion.
Read MoreAGC: Sharp Jump in Owners Canceling or Delaying Construction Projects
Thirty-nine percent of contractors report that project owners have halted or canceled current construction projects amid deteriorating economic conditions, according to a survey released today by the Associated General Contractors of America.
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