U.S. construction dips to $1.12 trillion in November
Year-over-year activity trends 10.5 percent higher than 2014.
The U.S. Census Bureau of the Department of Commerce announced yesterday that construction spending during November 2015 was estimated at a seasonally adjusted annual rate of $1,122.5 billion, 0.4 percent (±1.5%)* below the revised October estimate of $1,127.0 billion.
The November figure is 10.5 percent (±1.8%) 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 (±1.2%) above the $913.9 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $828.2 billion, 0.2 percent (±0.8%)* 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 (±1.3%)* 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 (±0.8%)* below the revised October estimate of $402.9 billion.
PUBLIC CONSTRUCTION
In November, the estimated seasonally adjusted annual rate of public construction spending was $294.3 billion, 1.0 percent (±2.5%)* below the revised October estimate of $297.3 billion.
Educational construction was at a seasonally adjusted annual rate of $71.2 billion, 5.0 percent (±3.9%) 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 (±5.6%)* below the revised October estimate of $92.0 billion.
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