Construction Spending Rose 0.1% in February

Washington, DC, April 2, 2018-Construction spending during February 2018 was estimated at a seasonally adjusted annual rate of $1,273.1 billion, 0.1% above the revised January estimate of $1,272.2 billion, according to the U.S. Census Bureau.

The February figure is 3.0% above the February 2017 estimate of $1,235.7 billion. During the first two months of this year, construction spending amounted to $176.3 billion, 4.4% above the $168.9 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $982.0 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.

In February, the estimated seasonally adjusted annual rate of public construction spending was $291.1 billion, 2.1% below the revised January estimate of $297.4 billion. Educational construction was at a seasonally adjusted annual rate of $74.6 billion, 0.5% below the revised January estimate of $75.0 billion. Highway construction was at a seasonally adjusted annual rate of $88.5 billion, 0.2% below the revised January estimate of $88.7 billion.