The following is the unedited transcript of the news release from the Department of Commerce.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during November 2007 was estimated at a seasonally adjusted annual rate of $1,165.1 billion, 0.1 percent (±1.6%)* above the revised October estimate of $1,163.6 billion. The November figure is 0.1 percent (±2.4%) below the November 2006 estimate of $1,166.3 billion. During the first 11 months of this year, construction spending amounted to $1,076.2 billion, 2.5 percent (±1.4%) below the $1,103.9 billion for the same period in 2006.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $860.7 billion, 0.7% below the revised October estimate of $866.6 billion. Residential construction was at a seasonally adjusted annual rate of $484.9 billion in November, 2.5 percent (±1.3%) below the revised October estimate of $497.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $375.8 billion in November, 1.7 percent (±2.2%)* above the revised October estimate of $369.5 billion.

PUBLIC CONSTRUCTION

In November, the estimated seasonally adjusted annual rate of public construction spending was $304.3 billion, 2.5 percent (±1.9%) above the revised October estimate of $297.0 billion. Educational construction was at a seasonally adjusted annual rate of $87.6 billion, 3.3 percent (±2.6%) above the revised October estimate of $84.8 billion. Highway construction was at a seasonally adjusted annual rate of $81.2 billion, 1.9 percent (±4.5%)* above the revised October estimate of $79.6 billion.


Available at:

http://www.census.gov/const/C30/release.pdf