Construction Spending Increased by 0.8% in November

Washington, DC, February 1, 2019-Construction spending during November 2018 was estimated at a seasonally adjusted annual rate of $1,299.9 billion, 0.8% above the revised October estimate of $1,289.7 billion, according to the U.S. Census Bureau.

The November figure is 3.4% above the November 2017 estimate of $1,257.3 billion. During the first eleven months of this year, construction spending amounted to $1,200.7 billion, 4.5% above the $1,149.3 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $993.4 billion, 1.3% above the revised October estimate of $980.4 billion. Residential construction was at a seasonally adjusted annual rate of $542.5 billion in November, 3.5% above the revised October estimate of $524.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $450.8 billion in November, 1.2% below the revised October estimate of $456.1 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $306.5 billion, 0.9% below the revised October estimate of $309.3 billion. Educational construction was at a seasonally adjusted annual rate of $76.7 billion, 2.0% below the revised October estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $93.4 billion, 1.7% above the revised October estimate of $91.8 billion.