Posted April 2, 2018

Construction spending rose 0.1 percent in February

Construction spending during February 2018 was estimated at a seasonally adjusted annual rate of $1,273.1 billion, 0.1 percent above the revised January estimate of $1,272.2 billion.

The February figure is 3.0 percent 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 percent 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 percent above January. Residential construction was up 0.1 percent, while nonresidential construction increased 1.5 percent .

In February, the estimated seasonally adjusted annual rate of public construction spending was $291.1 billion, 2.1 percent below January. Educational construction fell 0.5 percent, while highway construction was 0.2 percent below January.

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