February construction spending grew by 0.5 percent
Construction spending during February was estimated at a seasonally adjusted annual rate of $1,704.4 billion, 0.5 percent above the revised January estimate of $1,695.5 billion.
The February figure is 11.2 percent above the February 2021 estimate of $1,533.3 billion. During the first two months of this year, construction spending amounted to $237.8 billion, 10.4 percent above the $215.4 billion for the same period in 2021.
Spending on private construction was at a seasonally adjusted annual rate of $1,353.7 billion, 0.8 percent above the revised January estimate of $1,343.4 billion. Residential construction was 1.1 percent above January. Nonresidential construction was 0.2 percent above January.
In February, the estimated seasonally adjusted annual rate of public construction spending was $350.7 billion, 0.4 percent below the revised January estimate of $352.2 billion. Educational construction was 1.3 percent below January. Highway construction was 1.3 percent below January.
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.
