January 04, 2022
Construction spending in November 2021 is expected to be $1,625.9 billion, up 0.4% (±1.0%) from the revised October estimate of $1,618.8 billion. The November amount is 9.3% (±1.2%) higher than the November 2020 projection of $1,487.2 billion. Construction spending was $1,463.2 billion in the first eleven months of this year, up 7.9% (±1.0%) from $1,355.6 billion in the same period last year.
Spending on private construction was $1,273.6 billion, 0.6% (±0.7%) higher than the revised October estimate of $1,265.8 billion. In November, the seasonally adjusted annual rate of residential building was $796.3 billion, up 0.9% (±1.3%) from the revised October estimate of $789.1 billion. Nonresidential construction was $477.3 billion in November, up 0.1% (±0.7%) from the revised October estimate of $476.6 billion.
The seasonally adjusted annual rate of public construction spending was $352.3 billion in November, 0.2% (±1.6%) lower than the revised October estimate of $353.0 billion. The seasonally adjusted annual rate of educational building was $82.3 billion, 0.3% (±1.8%) higher than the revised October estimate of $82.1 billion. Highway construction was at a seasonally adjusted annual pace of $102.2 billion, down 0.8% (±4.1%) from the revised October estimate of $103.0 billion.
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