The U.S. Census Bureau is reporting that total construction spending in November was estimated at a seasonally adjusted annual rate of$1.25 trillion, which is 0.8% higher than October and 2.4% above the November 2016 number. Spending on private construction was at a seasonally adjusted annual rate of $964.3 billion, which is 1% higher than October. Residential construction was at a seasonally adjusted annual rate of $530.8 billion in November, which was also 1% higher than October’s figure. Nonresidential construction was at a seasonally adjusted annual rate of $433.5 billion in November.
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