“Construction put in place came within a whisker of setting a record in August but remains a tale of three markets,” said Kenneth D. Simonson, chief economist for the Associated General Contractors of America, the nation's leading construction trade association.
Gross domestic product grew even more strongly in the second quarter than was previously estimated-3.3% instead of 3.1% at a seasonally adjusted annual rate in real (net of inflation) terms, the Bureau of Economic Analysis reported.
“Construction put in place continued to lose steam in May but is still ahead of the pace in 2002,” said Kenneth D. Simonson, chief economist for the Associated General Contractors of America (AGC), the nation’s leading construction trade association.
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