Construction Spending Rose 0.9% in November

Washington, DC, January 3, 2017—Construction spending during November 2016 was estimated at a seasonally adjusted annual rate of $1,182.1 billion, 0.9% above the revised October estimate of $1,171.4 billion, the U.S. Census Bureau of the Department of Commerce has announced.

The November figure is 4.1% above the November 2015 estimate of $1,135.5 billion.

During the first 11 months of this year, construction spending amounted to $1,070.9 billion, 4.4% above the $1,025.5 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $892.8 billion, 1.0% above the revised October estimate of $884.3 billion. Residential construction was at a seasonally adjusted annual rate of $462.9 billion in November, 1.0% above the revised October estimate of $458.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $429.9 billion in November, 0.9% above the revised October estimate of $426.2 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $289.3 billion, 0.8% above the revised October estimate of $287.1 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 2.1% above the revised October estimate of $70.1 billion. Highway construction was at a seasonally adjusted annual rate of $94.6 billion, 1.1% above the revised October estimate of $93.6 billion.