The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November 2011 was estimated at a seasonally adjusted annual rate of $807.1 billion, 1.2% (±1.6%) above the revised October estimate of $797.4 billion. The November figure is 0.5% (±1.9%) above the November 2010 estimate of $803.0 billion.

During the first 11 months of this year, construction spending amounted to $724.8 billion, 2.5% (±1.1%) below the $743.6 billion for the same period in 2010.

Spending on private construction was at a seasonally adjusted annual rate of $522.3 billion, 1.0% (±1.0%) above the revised October estimate of $517.3 billion. Residential construction was at a seasonally adjusted annual rate of $243.7 billion in November, 2.0% (±1.3%) above the revised October estimate of $238.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $278.6 billion in November, nearly the same as (±1.0%)* the revised October estimate of $278.5 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $284.9 billion, 1.7% (±2.2%)* above the revised October estimate of $280.1 billion. Educational construction was at a seasonally adjusted annual rate of $71.9 billion, 0.5% (±3.8%)* above the revised October estimate of $71.5 billion. Highway construction was at a seasonally adjusted annual rate of $82.9 billion, 1.9% (±5.4%)* above the revised October estimate of $81.3 billion.