Friday, May 6, 2016

ABC: Nonresidential construction spending slips in March

Nonresidential construction spending fell 0.4% on a monthly basis in March, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC), but it was up 8.3% on a year-over-year basis to $695.7 billion. Eight of 16 nonresidential construction subsectors experienced monthly spending growth in March and twelve are up on a year-ago basis.

March would have recorded a monthly spending gain were it not for an upward revision to February’s data (from $690.3 to $698.4 billion).

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