February construction spending fell by 1.3 percent
Construction spending during February 2020 was estimated at a seasonally adjusted annual rate of $1,366.7 billion, 1.3 percent below the revised January estimate of $1,384.5 billion.
The February figure is 6.0 percent above the February 2019 estimate of $1,289.0 billion. During the first two months of this year, construction spending amounted to $193.5 billion, 8.2 percent above the $178.8 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,025.8 billion, 1.2 percent below January. Residential construction was at a seasonally adjusted annual rate of $564.3 billion in February, 0.6 percent below January. Nonresidential construction was at a seasonally adjusted annual rate of $461.5 billion in February, 2.0 percent below January.
In February, the estimated seasonally adjusted annual rate of public construction spending was $340.9 billion, 1.5 percent below the revised January estimate of $345.9 billion. Educational construction was 1.5 percent below January. Highway construction was 1.2 percent lower than 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.
