Construction Spending Rose 0.8% in November

Construction spending grew 0.8% to a seasonally adjusted annual level (SAAL) of $1,257.0 billion, in November, according to the Census Bureau. October’s spending estimate was upwardly revised to $1,247.1 billion. November’s figure is 2.4% greater than the November 2016 estimate of $1,227.0 billion.

Total private construction was $964.3 billion SAAL, a 1.0% increase from the revised October estimate of $955.1 billion. Total private construction is 2.6% higher than the November 2016 figure.

Private residential construction was $530.8 billion SAAL, 1.0% higher than October’s rate. November’s figure was 7.9% greater than its November 2016 estimate.

Private nonresidential construction was $433.5 billion, 0.9% above October’s estimate. November’s rate is 3.1% less than the November 2016 figure.

Public construction increased 0.2% to $292.7 billion SAAL. November’s figure is 1.8% above the November 2016 estimate.

Read the Census release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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