Construction Spending Posts Record Gain; Nonresidential Continues To Slip

Although construction spending has set records for the past six months, nonresidential construction continues to slide.

According to a report by the U.S. Census Bureau, private nonresidential construction is down about 6 percent year-to-date. On the bright side, private nonresidential construction posted a 14 percent gain and public construction edged up 5 percent from November 2002 to November 2003.