Monthly construction spending declines, but 2014 still looks to beat 2013

Construction spending declined in November, but 2014 is still on track to beat 2013’s expenditures, according to an analysis by the Associated General Contractors of America.

“Today’s figures continue the seesaw pattern that has characterized residential, private nonresidential and public construction throughout 2014,” said Ken Simonson, the association’s chief economist. “Overall construction spending dipped in November from an upwardly revised October total as residential building advanced but private and public nonresidential spending both retreated.”

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