Nonresidential Construction Spending Declines in December
National nonresidential construction spending fell 0.7% in December 2021, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $820.7 billion for the month.
Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending was virtually unchanged, but public nonresidential construction spending declined 1.6% in December. Overall nonresidential construction spending was up 3.9% from a year ago. Residential construction spending rose 14.7% over that time span.