Nonresidential Construction Spending Decreases in May, First Time in Nearly a Year, Says ABC

Nonresidential construction spending fell 0.2% in May, marking the end of 11 months of continuous growth. While a 17% growth has been observed over the period, the majority of the increase is due to manufacturing-related construction. Despite these figures, contractors remain optimistic as per ABC’s ConstructionConfidence Index,” said Anirban Basu, Associated Builders andContractors’ chief economist