Pace stays steady for new projects.The Associated General Contractors Associated General Contractors of America is the nation's oldest and largest trade association representing the construction industry. It was formed in 1918 following a request by President Woodrow Wilson. of America's (AGC's) Chief Economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the Ken Simonson said the nonresidential construction industry appears to be in a holding pattern based on Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census figures released on construction put in place in May, showing a gradual decline over the three months since February. "Private nonresidential construction has been little changed all year. Nevertheless, the totals for January through May are a respectable six percent higher than during the same months of 2004," Simonson said. "Public construction is also six percent ahead of 2004's pace on a year-to-date basis, with gradual expansion showing up each month." "Private residential construction has been slipping, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the revised data. The seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. annual rate for May was five percent lower than the record set in February, and that has dragged down the overall total," Simonson noted. "But on a January-May basis, residential is still up a robust 13 percent from the same months of 2004." Census has boosted its preliminary estimate of construction for 2004 from $1 trillion to nearly $1.03 trillion. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion