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Dive Brief: Investments in commercial construction grew by a modest 3% annualized rate during the final quarter of 2020, while the U.S. economy as a whole grew at an annualized 4% rate in that same period, according to Associated Builders and Contractors. “Some observers may say that the economic recovery that began in May 2020 is neatly in place, but that is simply not true,” Anirban Basu, ABC’s chief economist, said in the release. Basu said that the U.S. economy grew by 33.4% during the third quarter, but was followed by slower growth to close out the year, pointing to further uncert...

data: US Department of Commerce; graph: ForConstructionPros.com U.S. Commerce Department data from November measured the value of total U.S. construction put in place rising 0.9% to a seasonally adjusted annualized rate of $1.459 trillion, the highest level since the government started tracking the series in 2002. The number was lifted by residential construction spending that soared on a 5.1% leap in single-family housing construction, as nonresidential construction spending fell 0.6%. Ten of the sixteen nonresidential construction subcategories saw decreased spending in November, with ...