Construction spending during November 2009 was estimated at a seasonally adjusted annual rate of $900.1 billion, 0.6% below the revised October estimate of $905.6 billion. The November figure is 13.2% below November 2008, according to the U.S. Census Bureau of the Department of Commerce.
During the first 11 months of this year, construction spending amounted to $868.9 billion, 12.7% below the $994.9 billion for the same period in 2008.
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Spending on private construction was at a seasonally adjusted annual rate of $581.2 billion, 0.7% below the revised October estimate . Residential construction was at a seasonally adjusted annual rate of $250.7 billion in November, 1.6% below October. Nonresidential construction was at a seasonally adjusted annual rate of $330.5 billion in November, nearly the same as October .
In November, the estimated seasonally adjusted annual rate of public construction spending was $318.8 billion, 0.4% below. Educational construction was at a seasonally adjusted annual rate of $83.5 billion, 0.1% below October. Highway construction was at a seasonally adjusted annual rate of $87.5 billion, 2.9% below October.
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