The US Census Bureau announced that construction spending during November 2020 was estimated at a seasonally adjusted annual rate of $1,459.4 billion, 0.9 percent (±0.8 percent) above the revised October estimate of $1,446.9 billion. The November figure is 3.8 percent (±1.3 percent) above the November 2019 estimate of $1,405.5 billion.
During the first 11 months of this year, construction spending amounted to $1,314.1 billion, 4.4 percent (±1.0 percent) above the $1,258.8 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,111.8 billion, 1.2 percent (±0.5 percent) above the revised October estimate of $1,098.6 billion. Residential construction was at a seasonally adjusted annual rate of $658.1 billion in November, 2.7 percent (±1.3 percent) above the revised October estimate of $641.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $453.8 billion in November, 0.8 percent (±0.5 percent) below the revised October estimate of $457.6 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was $347.6 billion, 0.2 percent (±1.3 percent) below the revised October estimate of $348.3 billion. Educational construction was at a seasonally adjusted annual rate of $86.7 billion, 0.3 percent (±1.2 percent) above the revised October estimate of $86.5 billion. Highway construction was at a seasonally adjusted annual rate of $97.5 billion, 1.8 percent (±3.5 percent) above the revised October estimate of $95.8 billion.