Construction spending during November 2009 was estimated at a seasonally adjusted annual rate of $900.1 billion, 0.6 percent below the revised October estimate of $905.6 billion, according to the U.S. Census Bureau. The November figure is 13.2 percent below the November 2008 estimate of $1,037.3 billion. During the first 11 months of this year, construction spending amounted to $868.9 billion, 12.7 percent below the $994.9 billion for the same period in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $581.2 billion, 0.7 percent below the revised October estimate of $585.5 billion. Residential construction was at a seasonally adjusted annual rate of $250.7 billion in November, 1.6 percent below the revised October estimate of $254.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $330.5 billion in November, nearly the same as the revised October estimate of $330.6 billion.

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