November 2014 construction spending tops same month last year

Miami /
Jan.January 02, 2015 01:35 PM

The U.S. Census Bureau of the Department of Commerce said Friday that U.S. construction spending during November 2014 was estimated at a seasonally adjusted annual rate of $975 billion, 0.3 percent below the revised October estimate of $977.7 billion.

The November figure is 2.4 percent above the November 2013 estimate of $952.5 billion.

During the first 11 months of the year, construction spending amounted to $884.6 billion, 5.7 percent above the $836.9 billion for the same period in 2013.

Spending on private construction was at a seasonally adjusted annual rate of $697.7 billion, 0.3 percent above the revised October estimate of $695.7 billion. Residential construction was progressing at an annual rate of $352.7 billion in November, 0.9 percent above the revised October estimate of $349.6 billion.

Nonresidential construction was on track for an annual rate of $345 billion in November, 0.3 percent below the revised October estimate of $346.1 billion.

In November, the estimated seasonally adjusted annual rate of public construction spending was $277.3 billion, 1.7 percent below the revised October estimate of $282 billion. Ina Cordle


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