The US Census Bureau announced that US construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6 percent (±1.0 percent) above the revised October estimate of $1,316.8 billion. The November figure is 4.1 percent (±1.5 percent) above the November 2018 estimate of $1,271.4 billion.
During the first 11 months of this year, construction spending amounted to $1,201.6 billion, 0.8 percent (±1.2 percent) below the $1,211.8 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $985.5 billion, 0.4 percent (±0.7 percent) above the revised October estimate of $981.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.1 billion in November, 1.9 percent (±1.3 percent) above the revised October estimate of $526.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $449.4 billion in November, 1.2 percent (±0.7 percent) below the revised October estimate of $454.7 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was $338.6 billion, 0.9 percent (±1.5 percent) above the revised October estimate of $335.7 billion. Educational construction was at a seasonally adjusted annual rate of $83.9 billion, virtually unchanged from (±1.5 percent) the revised October estimate of $84.0 billion. Highway construction was at a seasonally adjusted annual rate of $96.4 billion, 2.2 percent (±3.9 percent) above the revised October estimate of $94.3 billion.