Construction spending dipped in February
Construction spending during February 2016 was estimated at a seasonally adjusted annual rate of $1.14 trillion, 0.5 percent below the revised January estimate of $1.15 trillion.
The February figure is 10.3 percent above the February 2015 estimate of $1.03 trillion.
During the first 2 months of this year, construction spending amounted to $157.1 billion, 11.2 percent above the $141.3 billion for the same period in 2015.
Spending on private construction was at a seasonally adjusted annual rate of $846.2 billion, 0.1 percent below the revised January estimate of $847.2 billion. Residential construction was at a seasonally adjusted annual rate of $447.9 billion in February, 0.9 percent above the revised January estimate of $443.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.3 billion in February, 1.3 percent below the revised January estimate of $403.4 billion.
In February, the estimated seasonally adjusted annual rate of public construction spending was $297.8 billion, 1.7 percent below the revised January estimate of $302.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.2 percent below the revised January estimate of $69.3 billion. Highway construction was at a seasonally adjusted annual rate of $99.6 billion, 2.1 percent below the revised January estimate of $101.7 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
