Education Construction Spending Is Up
The U.S. Census Bureau announced construction spending for November 2017 was up at a seasonally adjusted annual rate of $1,257.0 billion, 0.8 percent above the revised October estimate. It was also up 2.4 percent from November 2016, and during the first eleven months of this year, construction spending amounted to $1,138.3 billion, 4.2 percent above the $1,091.9 billion for the same period in 2016.
While private constructions spending was 1.0 percent above the revised October estimate of $955.1 billion; public construction spending was $292.7 billion which is up 0.2 percent above last month’s revised estimates of $292.0 billion.
One of the main contributors to the public construction spending growth in November came from educational construction which was at a seasonally adjusted annual rate of $78.8 billion, 3.8 percent above the revised October estimate of $75.9 billion and up 12.0 percent from a year ago.
More information may be found at: https://www.census.gov/construction/c30/pdf/release.pdf