Private construction leads spending in November
Residential construction led the market again with a 3.5 percent gain over October.
The U.S. Census Bureau announced the following value put in place construction statistics for November 2018:
Total Construction
Construction spending during November 2018 was estimated at a seasonally adjusted annual rate of $1,299.9 billion, 0.8 percent (±1.3 percent)* above the revised October estimate of $1,289.7 billion. The November figure is 3.4 percent (±1.5 percent) above the November 2017 estimate of $1,257.3 billion.
During the first eleven months of this year, construction spending amounted to $1,200.7 billion, 4.5 percent (±1.2 percent) above the $1,149.3 billion for the same period in 2017.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $993.4 billion, 1.3 percent (±0.8 percent) above the revised October estimate of $980.4 billion.
Residential construction was at a seasonally adjusted annual rate of $542.5 billion in November, 3.5 percent (±1.3 percent) above the revised October estimate of $524.2 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $450.8 billion in November, 1.2 percent (±0.8 percent) below the revised October estimate of $456.1
billion.
Public Construction
In November, the estimated seasonally adjusted annual rate of public construction spending was $306.5 billion, 0.9 percent (±2.3 percent)* below the revised October estimate of $309.3 billion.
Educational construction was at a seasonally adjusted annual rate of $76.7 billion, 2.0 percent (±1.6 percent)* below the revised October estimate of $78.3 billion.
Highway construction was at a seasonally adjusted annual rate of $93.4 billion, 1.7 percent (±5.6 percent)* above the revised October estimate of $91.8 billion.
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