Construction Spending Increases in November

Construction spending was at a seasonally adjusted annual rate of $1,625.9 billion in November, 0.4% above the revised October estimate of $1,618.8 billion. November’s figure is 9.3% above the November 2020 estimate of $1,487.2 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,273.6 billion, 0.6% above the revised October estimate of $1,265.8 billion. Private residential construction was at a seasonally adjusted annual rate of $796.3 billion in November, 0.9% above the revised October estimate of $789.1 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $477.3 billion in November, 0.1% above the revised October estimate of $476.6 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $352.3 billion, 0.2% below the revised October estimate of $353.0 billion.

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