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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

January 02, 2025
US CONSTRUCTION SPENDING, NOVEMBER 2024

Month over month (November 2024 vs October 2024), seasonally adjusted annual rate)

US construction spending increased 0.02% to $2,152.6 billion.                                                                                                                                                    

  • Total residential construction increased 0.1% to $918.1 billion.
  • Total non-residential construction spending decreased 0.1% to $1,234.5 billion.
  • Private sector construction increased 0.1% to $1,650.7 billion.
  • Public sector construction decreased 0.1% to $501.9 billion.                                                           

Private residential construction increased 0.1% to $906.2 billion, while private non-residential construction spending was down 0.02% to $744.5 billion.

Public residential construction increased 1.6% to $11.9 billion, while public non-residential construction spending decreased 0.2% to $490.0 billion.

 

Year-to-date (January-November 2024 vs January-November 2023)

US construction spending increased 6.6%. 

  • Total residential construction increased 5.8%.
  • Total non-residential construction spending increased 7.2%.
  • Private sector construction increased 5.7%.
  • Public sector construction increased 9.8%.   

 

Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis



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