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

Author

Listed:
  • Daniel Aaronson
  • Scott Brave

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.

Suggested Citation

  • Daniel Aaronson & Scott Brave, 2016. "Using Private Sector “Big Data” as an Economic Indicator: The Case of Construction Spending," Chicago Fed Letter, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhle:00054
    as

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    File URL: https://www.chicagofed.org/~/media/publications/chicago-fed-letter/2016/cfl366-pdf.pdf?la=en
    File Function: Full text
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    Citations

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    Cited by:

    1. Daniel Aaronson & Scott A. Brave & R. Andrew Butters & Daniel Sacks & Boyoung Seo, 2020. "Using the Eye of the Storm to Predict the Wave of Covid-19 UI Claims," Working Paper Series WP-2020-10, Federal Reserve Bank of Chicago, revised 16 Apr 2020.
    2. Aspremont Alexandre & Ben Arous Simon & Bricongne Jean-Charles & Lietti Benjamin & Meunier Baptiste, 2023. "Satellites Turn “Concrete”: Tracking Cement with Satellite Data and Neural Networks," Working papers 916, Banque de France.

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