The United States Department of Commerce reported that total construction spending is up 4.1 percent for the 11 months 2003 vs. 11 months 2002. Construction put in place spending during November 2003 was estimated at a seasonally adjusted annual rate of $934.5 billion, 1.2 percent above the revised October estimate and 7.4 percent above the November 2002 estimate.

Total residential spending is up 9.8 percent and currently represents approximately 50 percent of total construction spending.

Spending on office construction is down 11.5 percent and commercial down 2.4 percent. Health care spending is up 7.9 percent with educational up 1.3 percent and religious up 2.7 percent.