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In The News:

November Construction Spending Up 5.9% YOY

November 2013 construction spending was estimated at $934.4 billion,* 1 percent above the revised October estimate, according to the U.S. Census Bureau. The November figure is 5.9 percent above the November 2012 estimate.

During the first 11 months of this year, construction spending was $828.4 billion, 5 percent above the same period in 2012.

Spending on private construction was of $659.4 billion, 2.2 percent above the revised October estimate. Residential construction was $345.5 billion in November, 1.9 percent above the revised October estimate. Nonresidential construction was $313.9 billion in November, 2.7 percent above the revised October estimate.

In November, the estimated rate of public construction spending was $275 billion, 1.8 percent below the revised October estimate. Educational construction was $65.2 billion, 1.1 percent above the revised October estimate. Highway construction was $82 billion, 0.4 percent below the revised October estimate.

*All figures are expressed as a seasonally adjusted annual rate.

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