The U.S. Census Bureau of the Department of Commerce announced this month that construction spending during November 2016 was estimated at a seasonally adjusted annual rate of $1.18 trillion, 0.9% higher than October’s estimate and 4.1% higher than November 2015. Residential construction was at a seasonally adjusted annual rate of $462.9 billion in November, 1% higher than October’s estimate. Nonresidential construction was at a seasonally adjusted annual rate of $429.9 billion in November, 0.9% above October’s estimate of $426.2 billion.
