Using Private Sector “Big Data” as an Economic Indicator: The Case of Construction Spending

Abstract: 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.

Keywords: Textura; Construction spending; Economic indicators;

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Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Chicago Fed Letter

Publication Date: 2016

Order Number: 366