Sep
03

Nonresidential Construction Spending Slips in July

By
– Columbia Regional Business Report

For the second month in a row, nationwide private nonresidential construction spending has fallen, down 1.2% in July, according to a U.S. Census Bureau report released Tuesday.

On a year-over-year basis, private nonresidential construction spending is down 8.3%. Total nonresidential construction spending, including private and public, fell to $703.8 billion, down 1% from June and 2.6% from July 2008.

“Even though the stimulus package is now beginning to meaningfully impact the residential construction sector, the broader economy remains weak and credit remains tight,” said Anirban Basu, chief economist for the Associated Builders and Contractors national trade association.

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LINK TO ARTICLE HERE:

http://columbiabusinessreport.com/news/29290-nonresidential-construction-spending-slips-in-july
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