Construction spending sees slight bump in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $1,273.1 billion, or 0.1% above the revised January estimate of $1,272.2 billion, according to the U.S. Census Bureau.
The February figure is 3% above the February 2017 estimate of $1,235.7 billion. During the first two months of 2018, construction spending amounted to $176.3 billion, or 4.4% above $168.9 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $982 billion, 0.7% above the revised January estimate of $974.8 billion. Residential construction was at a seasonally adjusted annual rate of $533.4 billion in February, 0.1% above the revised January estimate of $532.9 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $448.6 billion in February, 1.5% above the revised January estimate of $441.9 billion.
Public Construction in February fell 2.1% to an estimated seasonally adjusted annual rate of public $291.1 billion, which is below the revised January estimate of $297.4 billion.
The February figure is 3% above the February 2017 estimate of $1,235.7 billion. During the first two months of 2018, construction spending amounted to $176.3 billion, or 4.4% above $168.9 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $982 billion, 0.7% above the revised January estimate of $974.8 billion. Residential construction was at a seasonally adjusted annual rate of $533.4 billion in February, 0.1% above the revised January estimate of $532.9 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $448.6 billion in February, 1.5% above the revised January estimate of $441.9 billion.
Public Construction in February fell 2.1% to an estimated seasonally adjusted annual rate of public $291.1 billion, which is below the revised January estimate of $297.4 billion.