November construction spending was estimated at a seasonally adjusted annual rate of $1,122.5 billion, 0.4 percent below the revised October estimate of $1,127 billion, according to the U.S. Census Bureau of the Department of Commerce. The November figure is 10.5 percent above the November 2014 estimate of $1,016.1 billion.
During the first 11 months of this year, construction spending amounted to $1,011.9 billion, 10.7 percent above the $913.9 billion for the same period in 2014.
Spending on private construction was at a seasonally adjusted annual rate of $828.2 billion, 0.2 percent below the revised October estimate of $829.7 billion. Residential construction was at a seasonally adjusted annual rate of $427.9 billion in November, 0.3 percent above the revised October estimate of $426.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $400.3 billion in November, 0.7 percent below the revised October estimate of $402.9 billion.
In November, the estimated seasonally adjusted annual rate of public construction spending was $294.3 billion, 1 percent below the revised October estimate of $297.3 billion. Educational construction was at a seasonally adjusted annual rate of $71.2 billion, 5 percent above the revised October estimate of $67.8 billion. Highway construction was at a seasonally adjusted annual rate of $90.7 billion, 1.3 percent below the revised October estimate of $92 billion.
