Leading construction economist assesses slowing private, nonresidential work
- Published: Friday, 07 October 2016 13:38
- Written by Concrete News
Sources: Associated Builders & Contractors, Washington, D.C.; CP staff
Nonresidential construction fell for a second consecutive month. An ABC analysis of U.S. Census Bureau data shows seasonally adjusted, annualized spending of $687 billion in August, 1.1 percent and 1.3 percent lower than prior month and August 2015 levels, respectively. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent on a monthly basis in August 2016.