Nonresidential construction spending expanded 0.6 percent in November, totaling $719.2 billion on a seasonally adjusted basis, according to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Census Bureau. Despite the month-over-month expansion, nonresidential spending fell 1.3 percent from November 2016.
Private nonresidential construction spending is down 3.1 percent year-over-year, while public sector spending has increased 1.7 percent over the same period. Spending in the manufacturing and power categories, two of the larger nonresidential subsectors, fell by a combined $21.7 billion over the past year.