Nonresidential construction spending dipped in February, falling 1.4% on a monthly basis according to analysis of U.S. Census Bureau data released by Associated Builders and Contractors (ABC). Spending in the nonresidential sector totaled $690.3 billion on a seasonally adjusted, annualized basis in February. While this represents a step back from January's figure of $700.3 billion (revised down from $701.9 billion), it is still 1.5% higher than the level of spending registered in December 2015 and 10.1% higher than February 2015.