Construction Spending Rose 0.6% in November

Washington, DC, January 3, 2020-Construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6% above the revised October estimate of $1,316.8 billion, according to the U.S. Census Bureau. 

The November figure is 4.1% above the November 2018 estimate of $1,271.4 billion. During the first eleven months of this year, construction spending amounted to $1,201.6 billion, 0.8%  below the $1,211.8 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $985.5 billion, 0.4% above the revised October estimate of $981.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.1 billion in November, 1.9% above the revised October estimate of $526.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $449.4 billion in November, 1.2% below the revised October estimate of $454.7 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $338.6 billion, 0.9% above the revised October estimate of $335.7 billion. Educational construction was at a seasonally adjusted annual rate of $83.9 billion, virtually unchanged from  the revised October estimate of $84.0 billion. Highway construction was at a seasonally adjusted annual rate of $96.4 billion, 2.2% above the revised October estimate of $94.3 billion.