Construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, up 0.2% from October, according to the U.S. Census Bureau. Spending in November 2022 was up 8.5% from the prior–year period.
During the first 11 months of 2022, construction spending was up 10.5% from the prior–year period.
Private construction spending was up 0.3% from the revised October estimate. Residential construction was down 0.5% from October. Nonresidential construction was 1.7% above October’s estimate.
The estimated seasonally adjusted annual rate of public construction spending in November 2022 was 0.1% below October’s estimate. Educational construction was up 0.1% from October. Highway construction was down 1% from October.