Construction spending during November 2024 was estimated at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from the revised October estimate of $2,152.3 billion. The November figure is 3.0% above the November 2023 estimate of $2,090.7 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,650.7 billion, 0.1% above the revised October estimate of $1,649.8 billion. Residential construction was at a seasonally adjusted annual rate of $906.2 billion in November, 0.1% above the revised October estimate of $905.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $744.5 billion in November, virtually unchanged from the revised October estimate of $744.6 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was $501.9 billion, 0.1% below the revised October estimate of $502.5 billion. Educational construction was at a seasonally adjusted annual rate of $107.0 billion, 0.2% below the revised October estimate of $107.2 billion. Highway construction was at a seasonally adjusted annual rate of $142.9 billion, 0.2% above the revised October estimate of $142.7 billion.
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