National nonresidential construction spending was down 0.8 percent in March, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $839.2 billion for the month.
On a year-over-year basis, nonresidential construction spending is up 5.6 percent, led by 31.9 percent growth in construction related to manufacturing.
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Associated Builders and Contractors reported today that its Construction Backlog Indicator remained unchanged at 8.0 months in February, according to an ABC member survey conducted Feb. 21 to March 8.
Associated Builders and Contractors reported today that its Construction Backlog Indicator remained unchanged at 8.0 months in February, according to an ABC member survey conducted Feb. 21 to March 8.