Construction spending rose 0.9% at a seasonally adjusted annual rate (SAAR) of $1,459.4 billion in November, according to the Census Bureau. November’s figure is 3.8% above the November 2019 estimate of $1,405.5 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,111.8 billion, 1.2% above the revised October estimate of $1,098.6 billion.
Private residential construction was at a seasonally adjusted annual rate of $658.1 billion in November, 2.7% above the revised October estimate of $641 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $453.8 billion in November, 0.8% below the revised October estimate of $457.6 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was $347.6 billion, 0.2% above the revised October estimate of $348.3 billion.
Read the Census release.