After being delayed a month due to the recent government shutdown, the U.S. Census Bureau just released the latest construction spending numbers for November 2018. Construction spending rose 0.8% in November to a seasonally adjusted annual rate of $1,299.9 billion. October’s estimate was revised down from $1,308.8 billion to $1,289.7 billion. September’s estimate for construction spending was revised down again from $1,310.8 billion to $1,287.9 billion.
The November estimate for total construction spending is 3.4% higher than a year ago when the November 2017 estimate was $1,257.3 billion. Total construction put in place (CPIP) for January through November 2018 totaled $1,200.7 billion. This is a 4.5% increase over the $1,149.3 billion spent during the first 11 months of 2017.