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.
