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Posted January 3, 2022

Construction spending rose in November

Construction spending during November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4 percent above the revised October estimate of $1,618.8 billion.


The November figure is 9.3 percent above the November 2020 estimate of $1,487.2 billion. During the first 11 months of this year, construction spending amounted to $1,463.2 billion, 7.9 percent above the $1,355.6 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,273.6 billion, 0.6 percent above the revised October estimate of $1,265.8 billion. Residential construction was 0.9 percent above October. Nonresidential construction was a 0.1 percent above October.

Public construction spending was $352.3 billion, 0.2 percent below the revised October estimate of $353.0 billion. Educational construction was 0.3 percent above October. Highway construction was 0.8 percent below October.

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