Despite a 2-percent dip in nonresidential construction spending, nonresidential construction spending still sits 4.8 percent higher than a year ago, according to an Associated Builders and Contractors (ABC) analysis of U.S. Census Bureau data.

The January decrease is the largest setback to spending since January 2014, though spending on a seasonally adjusted, annualized basis is $614.1 billion. In addition, the spending estimate for December 2014 was revised downward from $627.1 billion to $627 billion, and November’s figure was revised from $624.8 billion to $621.9 billion.

“Interpreting January construction statistics is always tricky because the seasonal adjustments can never precisely reflect the impact of any given winter or weather system,” says ABC chief economist Anirban Basu. “New England, among other places, was hit heavily by snow in January and this could explain the monthly decline in nonresidential construction spending.”

“Additionally, nonresidential construction spending enjoyed positive momentum through the end of 2014 and, until January, had registered spending growth in five of the previous six months,” Basu continues. “It is also possible that the West Coast port slowdown impacted construction volumes, including by reducing material availability.”

Spending in 13 nonresidential construction subsectors declined in January, including health care-related construction, which fell 2.3 percent for the month and is down 2.5 percent for the year. Meanwhile, education-related construction spending fell 3.6 percent for the month and 0.4 percent on a year-over-year basis.

Commercial construction spending decreased 5.7 percent in January, but is up 14 percent on a year-over-year basis, and office-related construction spending declined 1.7 percent in January, but is up 13.7 percent from the same time one year ago.