U.S. construction spending in November 2024 was at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from October and 3% above November 2023.
Don’t miss any content from Distribution Strategy Group. Join our list.
For the first 11 months of the year, construction spending was $1,986.8 billion, up 6.5% from the same period in 2023.
Spending on private construction was $1,650.7 billion, up 0.1% from October’s estimate. Residential construction was $906.2 billion, a 0.1% increase from October, while nonresidential construction was $744.5 billion, virtually unchanged from October.
Public construction spending was $501.9 billion, a 0.1% decrease from October’s estimate. Educational construction was $107 billion, down 0.2%. Highway construction was $142.9 billion, up 0.2% from October’s estimate of $142.7 billion.
