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August Construction Report Unavailable Due to Gov't Shutdown10-09-13 | News
August Construction Report Unavailable Due to Gov't Shutdown





The Census Bureau's online data center has been shuttered since October 1 due to the government shutdown, delaying the release of August construction levels. Industry trade organizations nationwide have called for an end to the impasse before it's effects harm economic growth.
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Construction spending levels in August are currently unavailable, as the Census Bureau is not releasing new data due the federal government shutdown.

''This shutdown poses a real risk of undermining the industry's long-awaited recovery,'' said Stephen Sandherr, the Associated General Contractors of America's chief executive officer. ''Depending on how long the government is closed, construction workers are likely to miss out on new job opportunities.''

The AGC warned that solicitations for new federal construction projects will be delayed until the federal government reopens. Other federal construction projects may also be delayed, as many federal supervisors will not be available to answer questions, approve or change orders.

''Unfortunately, the lack of federal spending data likely foreshadows a decline in federal construction spending until the government reopens,'' said Ken Simonson, the AGC's chief economist.

Other trade organizations are similarly frustrated with the political brinksmanship in Washington, and it's growing economic impact.

''Like most Americans, AIA members are extremely disillusioned with the current state of affairs in the nation's capital,'' said American Institute of Architects' President Mickey Jacob, FAIA. ''The design and construction industry is slowly recovering from one of the worst economic crises in modern history. The last thing we need is the self-inflicted wound that can potentially further damage the economy.''

At the National Association of Home Builders (NAHB) Fall 2013 Construction Forecast Webinar, Mark Zandi, chief economist at Moody's Analytics, was optimistic that Congress will resolve the stalemate, though he focused concern on the impending October 17 deadline, when the government will run out of cash to pay its bills.

''I truly anticipate that lawmakers will get it together, but that is definitely a challenge to my economic outlook,'' said Zandi. ''If policymakers can't get it together by Oct. 17, we're toast, and I think we are going into recession.''








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