U.S. Public, Private Annualized Construction Spend Rate at $807 Billion in November

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Based on the latest U.S. Department of Commerce data, construction spending during November 2011 was estimated at a seasonally adjusted annual rate of $807.1 billion, 1.2 percent (±1.6%) above the revised October estimate of $797.4 billion.

The November figure is 0.5 percent (±1.9%) above the November 2010 estimate of $803.0 billion.  During the first 11 months of this year, construction spending amounted to $724.8 billion, 2.5 percent (±1.1%) below the $743.6 billion for the same period in 2010.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $522.3 billion, 1.0 percent (±1.0%) above the revised October estimate of $517.3 billion.

Residential construction was at a seasonally adjusted annual rate of $243.7 billion in November, 2.0 percent (±1.3%) above the revised October estimate of $238.9 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $278.6 billion in November, nearly the same as (±1.0%) the revised October estimate of $278.5 billion.

PUBLIC CONSTRUCTION

In November, the estimated seasonally adjusted annual rate of public construction spending was $284.9 billion, 1.7 percent (±2.2%) above the revised October estimate of $280.1 billion. Educational construction was at a seasonally adjusted annual rate of $71.9 billion, 0.5 percent (±3.8%) above the revised October estimate of $71.5 billion.

Highway construction was at a seasonally adjusted annual rate of $82.9 billion, 1.9 percent (±5.4%)* above the revised October estimate of $81.3 billion.