Construction Spending Rose 0.8% in February

Washington, DC, April 3, 2017—Construction spending during February 2017 was estimated at a seasonally adjusted annual rate of $1,192.8 billion, 0.8% above the revised January estimate of $1,183.8 billion, the U.S. Census Bureau announced.

The February figure is 3.0% above the February 2016 estimate of $1,157.7 billion.

During the first two months of this year, construction spending amounted to $163.3 billion, 3.0% above the $158.5 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $917.3 billion, 0.8% above the revised January estimate of $910.0 billion.

Residential construction was at a seasonally adjusted annual rate of $484.7 billion in February, 1.8% above the revised January estimate of $476.1 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $432.7 billion in February, 0.3% below the revised January estimate of $433.8 billion.

In February, the estimated seasonally adjusted annual rate of public construction spending was $275.5 billion, 0.6% above the revised January estimate of $273.9 billion. Educational construction was at a seasonally adjusted annual rate of $71.7 billion, 0.5% above the revised January estimate of $71.3 billion. Highway construction was at a seasonally adjusted annual rate of $88.9 billion, 1.3% above the revised January estimate of $87.7 billion.