Nonresidential construction accelerates as housing hits the brakes, AGC economist says
"A surge in nonresidential construction spending in April nearly offset a slowdown in single-family home building and improvements," Ken Simonson, chief economist of The Associated General Contractors of America (AGC), the nation's leading construction trade association, said recently.
Simonson was commenting on the Census Bureau's report that construction spending in April was estimated at a seasonally adjusted annual rate of $1.196 trillion, down 0.1% from March. The April total was 8.5% higher than in April 2005.