US construction spending rises a slight 0.9 percent in November

The US Census Bureau of the Department of Commerce announced today that construction spending during November 2016 was estimated at a seasonally adjusted annual rate of $1,182.1 billion, 0.9 percent (±1.5 percent) above the revised October estimate of $1,171.4 billion. The November figure is 4.1 percent (±2.0 percent) above the November 2015 estimate of $1,135.5 billion.
 
During the first 11 months of this year, construction spending amounted to $1,070.9 billion, 4.4 percent (±1.0 percent) above the $1,025.5 billion for the same period in 2015.
 
Spending on private construction was at a seasonally adjusted annual rate of $892.8 billion, 1.0 percent (±1.5 percent) above the revised October estimate of $884.3 billion. Residential construction was at a seasonally adjusted annual rate of $462.9 billion in November, 1.0 percent (±1.3 percent) above the revised October estimate of $458.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $429.9 billion in November, 0.9 percent (±1.5 percent) above the revised October estimate of $426.2 billion.

 

In November, the estimated seasonally adjusted annual rate of public construction spending was $289.3 billion, 0.8 percent (±2.5 percent) above the revised October estimate of $287.1 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 2.1 percent (±2.5 percent) above the revised October estimate of $70.1 billion. Highway construction was at a seasonally adjusted annual rate of $94.6 billion, 1.1 percent (±5.4 percent) above the revised October estimate of $93.6 billion.