<img height="1" width="1" src="https://www.facebook.com/tr?id=373327176680496&amp;ev=PageView&amp;noscript=1">

By: Kendall Jones on February 1st, 2019

Print/Save as PDF

U.S. Construction Spending Increased 0.8% in November 2018

Industry News | Blog Posts

After being delayed a month due to the recent government shutdown, the U.S. Census Bureau just released the latest construction spending numbers for November 2018. Construction spending rose 0.8% in November to a seasonally adjusted annual rate of $1,299.9 billion. October’s estimate was revised down from $1,308.8 billion to $1,289.7 billion. September’s estimate for construction spending was revised down again from $1,310.8 billion to $1,287.9 billion.

The November estimate for total construction spending is 3.4% higher than a year ago when the November 2017 estimate was $1,257.3 billion. Total construction put in place (CPIP) for January through November 2018 totaled $1,200.7 billion. This is a 4.5% increase over the $1,149.3 billion spent during the first 11 months of 2017.

In November, total nonresidential construction spending was down 1.0% to a seasonally adjusted annual rate of $751.5 billion. October’s estimate was revised down from $763.8 billion to $759.3 billion. September’s estimate was revised down from $763.2 billion to $751.8 billion. Total nonresidential construction is up 5.5% from a year ago.

Total residential construction was estimated at a seasonally adjusted annual rate of $548.4 billion in November. This is 3.4% higher than October’s estimate which was revised down from $545.1 billion to $530.3 billion. September’s estimate was revised down again from $547.6 billion to $536.1 billion. Total residential construction spending has increased only 0.6% from a year ago.

Private construction spending increased to a seasonally adjusted annual rate of $993.4 billion in November. This is 1.3% above October’s estimate which was revised down from $998.7 billion to $980.4 billion. September’s estimate was revised down again from $1,003.0 billion to $983.2 billion. Total private construction spending is up 2.3% over the November 2017 estimate.

During November, private nonresidential construction was at a seasonally annual adjusted rate of $450.8 billion. This is 1.2% below October’s estimate which revised down from $459.7 billion to $456.1 billion. September’s estimate was revised down again from $461.3 billion to $453.3 billion. Private nonresidential construction spending has increased by 4.2% over the same period in 2017.

Private residential construction spending was at a seasonally adjusted annual rate of $542.5 billion in November. This is up 3.5% over October’s estimate which was revised down from $539.0 billion to $524.2 billion. September’s estimate was revised down again from $541.7 billion to $530.0 billion. November’s annual rate for private residential construction is 4.2 % higher than in November 2017.

The seasonally adjusted annual rate for public construction spending in November was estimated at $306.5 billion. This is 0.9% lower than October’s estimate which has been revised down from $310.2 billion to $309.3 billion. September’s estimate was revised down again from $307.8 billion to $304.7 billion. November’s seasonally adjusted annual rate for public construction spending was up 7.0% from a year ago when the November 2017 estimate was $286.3 billion.