Construction spending during November was estimated by the U.S. Commerce Department at a seasonally adjusted annual rate of $900.1 billion, 0.6% below the revised October estimate of $905.6 billion. The November figure is 13.2% below the November 2008 estimate of $1,037.3 billion.
During the first 11 months of this year, construction spending amounted to $868.9 billion, 12.7% below the $994.9 billion for the same period in 2008.
Public construction spending edged down in November to $318.8 billion, 0.4% below the revised October estimate of $320.1 billion. Highway construction was at a seasonally adjusted annual rate of $87.5 billion, 2.9% below the revised October estimate of $90.2 billion.
