The American Institute of Architects (AIA) issued the most comprehensive look yet at the built environment’s role in economic recovery, highlighting six specific policy steps that will generate jobs and help grow the American economy.
Total construction spending fell 1.3 percent in July, which was well below expectations. Previous months’ data were revised upward, however. Residential spending fell 1.6 percent and nonresidential fell 1.1 percent.
Chairman of the Federal Reserve Ben Bernanke today gave a speech outlining near-term and long-term prospects and policy considerations concerning the nation’s economy. While Bernanke noted some positive developments have occurred in the two years since NBER’s end-date for the Great Recession, he also detailed economic disappointments that are a source of ongoing concern for any small business owner or stakeholder in the housing market.