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January 02, 2024US CONSTRUCTION SPENDING, NOVEMBER 2023 Month over month November 2023 vs October 2023, seasonally adjusted annual rate)
The United States construction spending increased 0.4% to $2,050.1 billion. Total residential construction increased 1.0% to $907.4 billion. Total non-residential construction spending decreased 0.1% to $1,142.7 billion.
Private sector construction increased 0.7% to $1,595.0 billion. Private residential construction increased 1.1% to $896.8 billion, while private non-residential construction spending increased 0.2% to $698.2 billion.
Public sector construction decreased 0.7% to $455.1 billion. Public residential construction decreased 2.2% to $10.6 billion, while public non-residential construction spending decreased 0.6% to $444.5 billion.
Year-to-date (January-November 2023 vs January-November 2022)
US construction spending was up 6.1%.
- Total residential construction was down 6.6%
- Total non-residential construction was up 19.0%
- Private sector construction was up 3.9%
- Public sector construction was up 14.6%.
Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis using a FRED API.
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