The nonresidential construction recovery can now be considered a vigorous one, particularly relative to the balance of the economy. According to an August 3 release supplied by the U.S. Census Bureau, nonresidential construction spending was unchanged on a month-overmonth basis in June, totaling $686.9 billion on a seasonally adjusted, annualized rate. Despite the lack of month-over-month growth, nonresidential spending is 11.5 percent higher than it was at the same time one year ago and expanded 9.8 percent during the year's first six months, the fastest such growth since the Census Bureau began tracking construction spending in 2002.
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