Construction Spending – November 2008

Construction Spending At a Glance

• Total Construction Spending: $1,078.4 BILLION
• Monthly Change: Down 0.6%
• Year-to-year Change: Down 3.3%
• Private Residential Spending: $328.3 billion
• Monthly Change: Down 4.2%
• Private Non-residential: $428.2 billion
• Monthly Change: Up 0.7%

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NOVEMBER 2008 CONSTRUCTION AT $1,078.4 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November
2008 was estimated at a seasonally adjusted annual rate of $1,078.4 billion, 0.6 percent (±1.6%)* below the revised
October estimate of $1,085.3 billion. The November figure is 3.3 percent (±2.2%) below the November 2007 estimate of
$1,115.3 billion.
During the first 11 months of this year, construction spending amounted to $998.4 billion, 5.3 percent (±1.3%) below the
$1,054.3 billion for the same period in 2007.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $756.4 billion, 1.5 percent (±1.1%) below the
revised October estimate of $767.7 billion. Residential construction was at a seasonally adjusted annual rate of $328.3
billion in November, 4.2 percent (±1.3%) below the revised October estimate of $342.6 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $428.2 billion in November, 0.7 percent (±1.1%)* above the
revised October estimate of $425.1 billion.
PUBLIC CONSTRUCTION
In November, the estimated seasonally adjusted annual rate of public construction spending was $322.0 billion, 1.4
percent (±2.6%)* above the revised October estimate of $317.6 billion. Educational construction was at a seasonally
adjusted annual rate of $88.7 billion, 1.3 percent (±2.7%)* above the revised October estimate of $87.6 billion. Highway
construction was at a seasonally adjusted annual rate of $83.9 billion, 1.3 percent (±4.6%)* above the revised October
estimate of $82.8 billion.

Source: Commerce Department, Census Bureau