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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

January 03, 2023

Month over month (November 2022 vs October 2022, seasonally adjusted annual rate)

US construction spending increased 0.2% to $1,807.5 billion. This follows a fall of 0.2% reported in October 2022, when construction spending totaled $1,803.2 billion. Total residential construction decreased 0.5% to $877.4 billion. Total non-residential construction spending increased 0.9% to $930.1 billion.                                                                                                    

Private sector construction increased 0.3% to $1,426.4 billion. Private residential construction decreased 0.5% to $868.0 billion, while private non-residential construction spending increased 1.7% to $558.3 billion.

Public sector construction decreased 0.1% to $381.1 billion. Public residential construction decreased 0.1% to $9.3 billion, while public non-residential construction spending decreased 0.1% to $371.8 billion.

Year-to-date (Jan-Nov 2022 vs Jan-Nov 2021)

US construction spending was up 10.2%

  • Total residential construction was up 14.8%
  • Total non-residential construction was up 5.8%
  • Private sector construction was up 12.2%
  • Public sector construction was up 3.2%

Source: US Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis

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