Nonresidential Construction Spending Returns to Normal After Government Shutdown

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Nonresidential construction spending grew 0.6 on a monthly and yearly basis in November 2013, according to the Jan. 2 release by the U.S. Census Bureau. In November, spending totaled $583.436 billion on a seasonally adjusted, annualized basis.  "Construction activity bounced back in November, due in part to the end of the federal government shutdown and an accompanying return to normalcy," said Associated Builders and Contractors Chief Economist Anirban Basu. "Nonresidential construction spending was up 2.3 percent on a seasonally adjusted basis compared to September, which makes a better comparison because October was so unusual.  "The recent acceleration in economic activity sets the stage for a much better 2014, both for the broader economy and the nonresidential construction industry," said Basu. "We can expect nonresidential construction spending to expand during the first half of the year." (From ABC)

Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A.
1211 N Franklin St
Tampa, FL 33602

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