U.S. had more private, less public construction in 2017
Private construction spending increased for the first 11 months of 2017, but public construction spending such as for roads and bridges dropped, according to the Census Bureau's November construction spending report.
Overall construction spending continued to grow in November with the annual rate showing a 0.8 percent increase over October and a 2.4 percent increase over the previous November, according to the Census Bureau.
For the first 11 months of 2017, construction spending amounted to $1.1 trillion, a 4.2 percent increase over the first 11 months of 2016.
The 11-month total for private construction was $878.6 billion, a 6.5 percent increase over 2016. That included an 11.5 percent increase for private residential construction and a 1.1 percent increase for nonresidential construction such as office buildings.
Public construction dropped by 2.8 percent for an 11-month total of $259.7 billion that included a 3.2 percent drop in residential construction such as housing projects and a 2.8 percent drop in nonresidential construction such as streets and bridges.