AZ Big Media
Nonresidential construction spending dipped for a second consecutive month, falling 0.4 percent on a monthly basis in December, according to analysis of U.S. Census Bureau data released Monday by Associated Builders and Contractors (ABC).
Nonresidential construction spending totaled $681.2 billion on a seasonally adjusted, annualized basis. November’s nonresidential construction spending estimate was revised lower by 0.6 percent to $683.7 billion.
For a second consecutive month, 12 of 16 nonresidential subsectors experienced spending decreases on a monthly basis. Private nonresidential spending dipped 2.1 percent for the month, while public sector spending expanded 2.2 percent.
