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Chicago Fed Letter, No. 366, 2016
Using Private Sector “Big Data” as an Economic Indicator: The Case of Construction Spending
This Chicago Fed Letter provides an account of our collaboration with the construction contracts and payment management firm Textura to use their data to evaluate the state of U.S. construction spending. We show that new construction projects budgeted by Textura’s clients are a leading indicator for total U.S. construction spending and provide information beyond other already publicly available data.
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