Construction Spending Rate Rose 1.3 percent in November

Construction spending increased 1.3 percent at a seasonally adjusted annual rate (SAAR) of $1,299.9 billion, in November, according to the Census Bureau. November’s figure is 3.4 percent greater than the November 2017 estimate of $1,257.3 billion.

Total private construction was $993.4 billion SAAR, a 1.3 percent increase from the revised October estimate of $980.4 billion. This represents a 2.3 percent gain from November 2017.

Private residential construction was $542.5 billion SAAR, 1.3 percent higher than October’s rate. October’s This represents a 0.8 percent gain from November 2017.

Private nonresidential construction was $450.8 billion SAAR, 1.2 percent below October’s estimate. This represents a 4.2 percent gain from November 2017.

Public construction fell 0.9 percent at $286.3 billion SAAR. This represents a 7.0 percent gain from November 2017.

Read the Census release.

About Hugo Dante

Hugo Dante
Hugo Dante is a research associate in the Economic Policy and Research group at the ABA.
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