Construction Spending Down Slightly in February

Arlington, VA, April 2, 2015—Construction spending in February totaled $967 billion at a seasonally adjusted annual rate, less than 0.1% lower than in January but 2.1% higher than in February 2014, according to an analysis by the Associated General Contractors of America.

Association officials noted that the latest construction figures were held back by declining demand for single-family homes and declining public sector investment levels.

The divergent totals were reflected as well in major segments. Private residential spending in February dipped 0.2% from January and 2.1% from a year earlier, while private nonresidential spending increased 0.5% for the month and 5.9% year-over-year. Public construction spending decreased 0.8% from January and increased 3.1% from February 2014.

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