Total U.S. Construction Tops $810.2 Billion Annual Rate in November

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According to the Department of Commerce, total construction spending in the U.S. during the month of November 2010 was estimated at a seasonally adjusted annual rate of $810.2 billion, 0.4 percent (±1.6%) above the revised October estimate of $806.7 billion. The November figure is 6.0 percent (±1.9%) below the November 2009 estimate of $861.5 billion.

During the first 11 months of this year, construction spending amounted to $753.9 billion, 10.6 percent (±1.0%) below the $843.1 billion for the same period in 2009.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $491.8 billion, 0.3 percent (±1.1%) above the revised October estimate of $490.5 billion. Residential construction was at a seasonally adjusted annual rate of $235.7 billion in November, 0.7 percent (±1.3%) above the revised October estimate of $234.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $256.1 billion in November, 0.1 percent (±1.1%) below the revised October estimate of $256.3 billion.

PUBLIC CONSTRUCTION

In November, the estimated seasonally adjusted annual rate of public construction spending was $318.5 billion, 0.7 percent (±2.2%) above the revised October estimate of $316.2 billion. Educational construction was at a seasonally adjusted annual rate of $73.4 billion, 1.0 percent (±3.2%) above the revised October estimate of $72.7 billion. Highway construction was at a seasonally adjusted annual rate of $86.8 billion, 1.0 percent (±5.4%) below the revised October estimate of $87.7 billion.

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