Associated Builders & Contractors reported that total nonres-idential construction spending increased 0.9% in November to a seasonally adjusted annual rate of $555.7 billion, according to the Jan. 3 report by the U.S. Commerce Department. However, total nonresidential spending is down 0.1% from one year ago. Private nonresidential construction spending was unchanged for the month, but is 4.5% higher than November 2010. Public nonresidential construction jumped 1.8% in November, but is still down 4.4% year-over-year. "November's nonresidential construction performance was solid and the increase in spending encompassed both private and public construction," said ABC Chief Economist Anirban Basu.
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