November Construction Spending Up 10.5% Year over Year

Washington, DC, January 4, 2016—Construction spending during November 2015 was estimated at a seasonally adjusted annual rate of $1,122.5 billion, 0.4% below the revised October estimate of $1,127.0 billion but 10.5% above the November 2014 estimate of $1,016.1 billion, according to the U.S. Census Bureau of the Department of Commerce.

During the first 11 months of 2015, construction spending amounted to $1,011.9 billion, 10.7% above the $913.9 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $828.2 billion, 0.2% below the revised October estimate of $829.7 billion. Residential construction was at a seasonally adjusted annual rate of $427.9 billion in November, 0.3% above the revised October estimate of $426.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $400.3 billion in November, 0.7% below the revised October estimate of $402.9 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $294.3 billion, 1.0% below the revised October estimate of $297.3 billion. Educational construction was at a seasonally adjusted annual rate of $71.2 billion, 5.0% above the revised October estimate of $67.8 billion. Highway construction was at a seasonally adjusted annual rate of $90.7 billion, 1.3% below the revised October estimate of $92.0 billion.