The chief economist of the Associated General Contractors of America said a report released Monday on construction spending highlights the urgency of putting stimulus funds to work and unlocking the credit markets.
In a release by the Associated General Contractors of America, chief economist Ken Simonson said the new Census figures show that spending on nearly every type of non-residential construction is now “declining.”
“The stimulus money can put thousands of construction workers back on the job promptly, but only if federal and state agencies do their utmost to turn dollars into contracts,” Simonson said.
“Meanwhile, it will take a renewal of bank and bond market lending to get private construction back on track.”
Agencies Must Move Quickly to Turn Stimulus Dollars into Contracts
March 2, 2009