Ken Simonson is Chief Economist for Associated General Contractors
of America, the leading national trade association for the non-residential
construction industry. Among other writings, he produces a free weekly
one-page e-mail summarizing economic news relevant to construction, available
by e-mailing him at simonsonk@agc.org.
Construction is a large, diverse, and—lately—fast-growing sector
of the U.S. economy, comprising several distinct categories of activity.
Construction accounts for roughly five percent of non-farm payroll
employment and 12 percent of self-employment. The value of construction
put in place totals eight percent of GDP; construction supplies and
equipment are important components of manufacturing output. The current
outlook for the industry is for a pause in the fast-growing residential
market, but we can expect an acceleration in private and public nonresidential
construction. Data on different aspects of construction are available
from a variety of federal and private sources. There are limitations
and pitfalls that data users should bear in mind.
