New Census Data Shows Work on Transportation
Construction Projects Continues Strong Growth in 2001
(SMA Introduced to Southwest Ohio)
Washington, D.C.-The value of construction work performed on
highways and streets in August 2001 ran at a seasonally adjusted
annual pace of $55.8 billion, up 6 percent from August 2000,
according to "Value Put in Place" data released today
by the U.S. Bureau of the Census.
Year to date, construction work on highways and streets is
up 12 percent compared to the same period last year, more than
double the growth shown by the homebuilding and general construction
"Highway and street construction, powered by growing Federal
highway funding under the Transportation Equity Act for the
21st Century (TEA-21), continues to bolster construction activity
even as other sectors are pulled down by the recession,"
said Dr. William R. Buechner, American Road & Transportation
Builders Association (ARTBA) vice president of economics and
Construction work performed in other areas of transportation
are up even stronger this year, with construction on subways
and light rail running 75 percent ahead of last year's pace
and airport runways up almost 50 percent, Buechner reported.
"Transportation construction is the least cyclical sector
of the construction market," Buechner said. "Including
additional funding for highways in the fiscal stimulus program
could provide over 100,000 jobs next year for workers laid off
in other construction sectors."
For additional information, contact Dr. William Buechner at
(202)289-4434. Buechner has a Ph.D. in economics from Harvard
University and served as senior economist for the Joint Economic
Committee of the U.S. Congress for 22 years.
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