The 2020 Mid-Year Economic Update_long

Construction Spending Increased 1.4% in November

The October figure is 11.1% above the November 2018 estimate.

Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,482,000. This is 1.4% above the revised October rate of 1,461,000 and is 11.1% above the November 2018 rate of 1,334,000. Single‐family authorizations in November were at a rate of 918,000; this is 0.8% above the revised October figure of 911,000. Authorizations of units in buildings with five units or more were at a rate of 524,000 in November. 

Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,365,000. This is 3.2% above the revised October estimate of 1,323,000 and is 13.6% above the November 2018 rate of 1,202,000. Single‐family housing starts in November were at a rate of 938,000; this is 2.4% above the revised October figure of 916,000. The November rate for units in buildings with five units or more was 404,000. 

Privately‐owned housing completions in November were at a seasonally adjusted annual rate of 1,188,000. This is 6.6% below the revised October estimate of 1,272,000, but is 7.3% above the November 2018 rate of 1,107,000. Single‐family housing completions in November were at a rate of 883,000; this is 3.6% below the revised October rate of 916,000. The November rate for units in buildings with five units or more was 295,000. 

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