- US Private Nonresidential New Construction during the three months through October totaled $120.2 billion, down 7.1% from the same period one year ago.
- Construction typically lags the US industrial economy by approximately one year. We expect the COVID-19 pandemic and related shutdowns to impact Construction in 2021, driving decline in this sector throughout the year.
U.S. Private Nonresidential New Construction
Construction business cycle decline will likely persist in at least the coming quarters.
October 27, 2020