Dive summary

• Federal data about construction in November show that nonresidential spending went down 0.6% from October, coming in at a seasonally adjusted annualized pace of $564.1 billion.
• With the decrease figured in, overall nonresidential spending is up 2.9% over 12 months, with an 8.2% gain in the private sector helping to overcome a 2.3% sag in public-sector spending.
• Associated Builders and Contractors says that despite the slowdown, it believes demand for nonresidential work has been building up because of what Chief Economist Anirban Basu called "broader economic factors."

From the release:

“ABC’s 2013 construction forecast has remained consistent with the notion that America would not fall off her fiscal cliff and construction momentum would be renewed by the latter part of next year,” Basu said. ...