Private residential, private nonresidential, and public construction all saw increases
The Census Bureau recently reported that November’s construction-put-in-place totaled $1.013 billion at a seasonally adjusted rate. This figure is 0.4% less than October’s revised total of $1.017 billion but higher than the original estimate for October. On a year-to-date basis, spending for the first 11 months of 2004 was up 9% over the same 11 months in 2003.
Private residential construction was 14% higher year-to-date, while private nonresidential and public construction were both 3% higher. Within private nonresidential construction, general merchandise (+26%) non-mall shopping centers (+19%), lodging (+17%) year-to-date, health-care (+10%), and office construction (+5.5%) were all up. On the downside were electric power (–11%), warehouse (–5.5%), educational (–4%), and manufacturing (–1%).
Within public construction, highways and streets and educational were both up +4%, as were sewage and waste disposal (+7.5%), office (+5%), and transportation (+1%), while amusement and recreation was down (–9%). All of the private residential categories saw increases: new single-unit (+20%), new multi-unit (+9%), and improvements (+3.5%). The figures aren’t adjusted for inflation.
