Nonresidential Construction Spending Falters In August

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Nonresidential construction spending slipped in August, according to an Oct. 1 release from the U.S. Census Bureau. Nonresidential construction spending shrank 1.2 percent on a monthly basis in August, but has still managed to expand 6 percent on a year-over-year basis. Spending for the month totaled $603.7 billion on a seasonally adjusted, annualized basis. The government also revised the July spending figure down from $617.8 billion to $611.3 billion. "After a significant acceleration in spending in July, August's report depicts a steady but unspectacular recovery," said ABC Chief Economist Anirban Basu.

From ABC

Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A.
407 N. Howard Avenue
Suite 100
Tampa, FL 33606

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