Commercial construction spending recovers after shutdown

Nonresidential construction spending totaled $583.4 billion nationwide in November, a 0.6 percent bump that returned spending levels to those seen before the government shutdown, according to an Associated Builders and Contractors report released last week.

Spending increased 1.6 percent in October after declining 1.3 percent in September. The partial government shutdown occurred during a 16-day period in October, shaking confidence in the building industry, according to a news release.

"Construction activity bounced back in November, due in part to the end of the federal government shutdown and an accompanying return to normalcy," ABC chief economist Anirban Basu said in the release. "The recent acceleration in economic activity sets the stage for a much better 2014, both for the broader economy and the nonresidential construction industry. We can expect nonresidential construction spending to expand during the first half of the year."

Among the 16 nonresidential construction spending divisions measured by ABC, seven increased in November, while more than half declined.