Construction Spending Rose 0.4% in November

January 3, 2022 from Floor Focus Floordaily.net News

Washington, DC, January 3, 2022 – Construction spending during November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4% above the revised October estimate of $1,618.8 billion, according to the U.S. Census Bureau.

The November figure is 9.3% above the November 2020 estimate of $1,487.2 billion. During the first eleven months of this year, construction spending amounted to $1,463.2 billion, 7.9% 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% above the revised October estimate of $1,265.8 billion. Residential construction was at a seasonally adjusted annual rate of $796.3 billion in November, 0.9% above the revised October estimate of $789.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $477.3 billion in November, 0.1% above the revised October estimate of $476.6 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $352.3 billion, 0.2% below the revised October estimate of $353.0 billion. Educational construction was at a seasonally adjusted annual rate of $82.3 billion, 0.3% above the revised October estimate of $82.1 billion. Highway construction was at a seasonally adjusted annual rate of $102.2 billion, 0.8% below the revised October estimate of $103.0 billion.

Related Topics: U.S. Census Bureau