November 2016 construction spending rises 4.1 percent year-over-year
Year to date trend is 4.4 percent over 2015 levels.
The U.S. Census Bureau of the Department of Commerce has announced that construction spending during November 2016 was estimated at a seasonally adjusted annual rate of $1,182.1 billion, 0.9 percent (±1.5%)* above the revised October estimate of $1,171.4 billion.
The November figure is 4.1 percent (±2.0%) above the November 2015 estimate of $1,135.5 billion.
During the first 11 months of this year, construction spending amounted to $1,070.9 billion, 4.4 percent (±1.0%) above the $1,025.5 billion for the same period in 2015.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $892.8 billion, 1.0 percent (±1.5%)* above the revised October estimate of $884.3 billion.
Residential construction was at a seasonally adjusted annual rate of $462.9
billion in November, 1.0 percent (±1.3%)* above the revised October estimate of $458.2 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $429.9 billion in November, 0.9 percent (±1.5%)* above the revised October estimate of $426.2 billion.
PUBLIC CONSTRUCTION
In November, the estimated seasonally adjusted annual rate of public construction spending was $289.3 billion, 0.8 percent (±2.5%)* above the revised October estimate of $287.1 billion.
Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 2.1 percent (±2.5%)* above the revised October estimate of $70.1 billion.
Highway construction was at a seasonally adjusted annual rate of $94.6 billion, 1.1 percent (±5.4%)* above the revised October estimate of $93.6 billion.
CONTRACTOR SUPPLY MAGAZINE
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