WASHINGTON, DC — National nonresidential construction spending decreased 0.2% in July, according to an Associated Builders and Contractors analysis of data published by the US Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.24 trillion. “Nonresidential construction spending fell for a third consecutive month in July and is now down 2.5% from the December 2023 record high,” said ABC Chief Economist Anirban Basu. Private nonresidential spending was down 0.5%, while public nonresidential construction spending was up 0.3% in July. “Private nonresidential activity has declined at a particularly concerning pace over the past several months and fell another 0.5% in July,” said Basu.