The U.S. Census Bureau today published the monthly construction spending report for November of 2024.
Total Construction
Construction spending during November 2024 was estimated at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from (±1.0 percent)* the revised October estimate of $2,152.3 billion. The November figure is 3.0 percent (±1.5 percent) above the November 2023 estimate of $2,090.7 billion. During the first eleven months of this year, construction spending amounted to $1,986.8 billion, 6.5 percent (±1.2 percent) above the $1,866.0 billion for the same period in 2023.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,650.7 billion, 0.1 percent (±0.5 percent)* above the revised October estimate of $1,649.8 billion. Residential construction was at a seasonally adjusted annual rate of $906.2 billion in November, 0.1 percent (±1.3 percent)* above the revised October estimate of $905.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $744.5 billion in November, virtually unchanged from (±0.5 percent)* the revised October estimate of $744.6 billion.
Public Construction
In November, the estimated seasonally adjusted annual rate of public construction spending was $501.9 billion, 0.1 percent (±1.6 percent)* below the revised October estimate of $502.5 billion. Educational construction was at a seasonally adjusted annual rate of $107.0 billion, 0.2 percent (±2.5 percent)* below the revised October estimate of $107.2 billion. Highway construction was at a seasonally adjusted annual rate of $142.9 billion, 0.2 percent (±4.3 percent)* above the revised October estimate of $142.7 billion.