Construction Spending Rose 1.0% in February

Washington, DC, April 1, 2019-Construction spending during February 2019 was estimated at a seasonally adjusted annual rate of $1,320.3 billion, 1.0% above the revised January estimate of $1,307.3 billion, according to the U.S. Census Bureau. The February figure is 1.1% above the February 2018 estimate of $1,305.5 billion.

During the first two months of this year, construction spending amounted to $181.9 billion, 1.4% above the $179.4 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $994.5 billion, 0.2% above the revised January estimate of $993.0 billion. Residential construction was at a seasonally adjusted annual rate of $540.9 billion in February, 0.7% above the revised January estimate of $536.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $453.6 billion in February, 0.5% below the revised January estimate of $456.0 billion.

In February, the estimated seasonally adjusted annual rate of public construction spending was $325.8 billion, 3.6% above the revised January estimate of $314.4 billion. Educational construction was at a seasonally adjusted annual rate of $76.3 billion, 0.8% above the revised January estimate of $75.7 billion. Highway construction was at a seasonally adjusted annual rate of $111.1 billion, 9.5% above the revised January estimate of $101.5 billion.