Monthly Construction Spending Up 0.4%

November 2021 construction spending was estimated at $1,625.9 billion, a 0.4% increase over the revised October estimate.
november 2021 construction spending

Construction spending in November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4% above the revised October estimate of $1,618.8 billion, according to the U.S. Census Bureau.

The November total was 9.3% above the November 2020 estimate of $1,487.2 billion. During the first 11 months of 2021, construction spending amounted to $1,463.2 billion, 7.9% above the $1,355.6 billion for the same period in 2020.

Spending on private construction was at a seasonally adjusted annual rate of $1,273.6 billion, 0.6% above the revised October estimate of $1,265.8 billion. Residential construction was at a seasonally adjusted annual rate of $796.3 billion in November, 0.9% above the revised October estimate of $789.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $477.3 billion, 0.1% above the revised October estimate of $476.6 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $352.3 billion, 0.2% below the revised October estimate of $353.0 billion. Educational construction was at a seasonally adjusted annual rate of $82.3 billion, 0.3% above the revised October estimate of $82.1 billion. Highway construction was at a seasonally adjusted annual rate of $102.2 billion, 0.8% below the revised October estimate of $103.0 billion.

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