Home Economy Real Estate Report: Nonresidential construction down 1.3% in U.S. in November

Report: Nonresidential construction down 1.3% in U.S. in November

SPENDING ON PRIVATE, nonresidential building projects in the U.S. in November dropped by 3.1 percent year over year, while public spending increased 1.7 percent, reversing previous trends, in which private spending grew at a faster clip than public work, according to Associated Builders and Contractors Chief Economist Anirban Basu.
SPENDING ON PRIVATE, nonresidential building projects in the U.S. in November dropped by 3.1 percent year over year, while public spending increased 1.7 percent, reversing previous trends, in which private spending grew at a faster clip than public work, according to Associated Builders and Contractors Chief Economist Anirban Basu.

PROVIDENCE – Nonresidential construction fell by 1.3 percent in November, compared to the year prior, according to data released by Associated Builders and Contractors Inc.

Spending on private, nonresidential projects dropped by 3.1 percent, while public spending increased by 1.7 percent. Spending in the manufacturing and power categories, two of the larger nonresidential categories, fell by a combined $21.7 billion over the past year, the ABC reported.

The pattern reverses previous trends, in which private spending grew at a faster clip than public work, according to ABC Chief Economist Anirban Basu.

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.

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