U.S. construction spending in November 2024 was estimated at a seasonally adjusted annual rate of $2.15 trillion, mostly level with October and 3.0% higher than the same month in 2023. Year-to-date spending jumped 6.5% from the first 11 months of 2023.
Private spending in November rose 0.1% to $1.65 trillion compared to October. Residential expenditures improved 0.1% to $906.2 billion, while non-residential expenditures were $744.5 billion, no change from October.
Educational construction spending in the private and public sectors totaled $132.1 billion, down 0.3% from the previous month but up 2.6% from November 2023. Construction spending in healthcare was $67.9 billion, increasing 0.1% from October but 1.0% lower than the comparable month in 2023. Commercial construction spending totaled $124.4 billion, unchanged from October but declining 8.0% from November 2023. See U.S. Census Bureau
