National nonresidential construction spending declined 1% in November, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data recently released. The release of November data, originally scheduled for Jan. 3, was delayed by the partial government shutdown.
Total nonresidential spending stood at $751.5 billion on a seasonally adjusted annualized rate, which represents a 5.5% increase over November 2017. However, 12 of the 16 nonresidential subsectors experienced monthly declines.
“One of the most interesting and surprising aspect of today’s release was evident of a dip in infrastructure spending, at least in certain categories,” said ABC Chief Economist Anirban Basu.
