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National Construction Spending in November 2021 Rises 9.3% Year-Over-Year

January 4, 2022 - The U.S. Census Bureau has announced the following value put in place construction statistics for November 2021:

nov

Total Construction

Construction spending during November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4 percent (±1.0 percent)* above the revised October estimate of $1,618.8 billion. The November figure is 9.3 percent (±1.2 percent) above the November 2020 estimate of $1,487.2 billion. During the first eleven months of this year, construction spending amounted to $1,463.2 billion, 7.9 percent (±1.0 percent) above the $1,355.6 billion for the same period in 2020.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,273.6 billion, 0.6 percent (±0.7 percent)* 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 percent (±1.3 percent)* above the revised October estimate of $789.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $477.3 billion in November, 0.1 percent (±0.7 percent)* above the revised October estimate of $476.6 billion.

Public Construction

In November, the estimated seasonally adjusted annual rate of public construction spending was $352.3 billion, 0.2 percent (±1.6 percent)* below the revised October estimate of $353.0 billion. Educational construction was at a seasonally adjusted annual rate of $82.3 billion, 0.3 percent (±1.8 percent)* above the revised October estimate of $82.1 billion. Highway construction was at a seasonally adjusted annual rate of $102.2 billion, 0.8 percent (±4.1 percent)* below the revised October estimate of $103.0 billion.

Full Report

Source: U.S. Census Bureau

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