Total construction climbs 8.5% from last November
Construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, 0.2 percent (±0.8 percent)* above the revised October estimate of $1,803.2 billion, the U.S. Census Bureau reported on January 3. The November figure is 8.5 percent (±1.3 percent) above the November 2021 estimate of $1,665.2 billion. During the first 11 months of this year, construction spending amounted to $1,657.6 billion, 10.5 percent (±1.0 percent) above the $1,499.8 billion for the same period in 2021.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,426.4 billion, 0.3 percent (±0.5 percent)* above the revised October estimate of $1,421.6 billion. Residential construction was at a seasonally adjusted annual rate of $868.0 billion in November, 0.5 percent (±1.3 percent)* below the revised October estimate of $872.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $558.3 billion in November, 1.7 percent (±0.5 percent) above the revised October estimate of $549.2 billion.
Public Construction
In November, the estimated seasonally adjusted annual rate of public construction spending was $381.1 billion, 0.1 percent (±1.5 percent)* below the revised October estimate of $381.6 billion. Educational construction was at a seasonally adjusted annual rate of $81.3 billion, 0.1 percent (±1.5 percent)* above the revised October estimate of $81.2 billion. Highway construction was at a seasonally adjusted annual rate of $115.0 billion, 1.0 percent (±3.3 percent)* below the revised October estimate of $116.2 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
