Construction Spending Rate Rose 0.1% in February

Construction spending increased 0.1% at a seasonally adjusted annual level (SAAL) of $1,273.1 billion, in February, according to the Census Bureau. January’s spending estimate was upwardly revised to $1,272.2 billion. February’s figure is 3.0% greater than the February 2017 estimate of $1,235.7 billion.

Total private construction was $982.0 billion SAAL, a 0.7% increase from the revised January estimate of $974.8 billion. Total private construction is 3.4% higher than the February 2017 figure.

Private residential construction was $533.4 billion SAAL, 0.1% higher than January’s rate. February’s figure was 5.5% greater than its February 2017 estimate.

Private nonresidential construction was $448.6 billion, 1.5% above January’s estimate. February’s rate is 1.1% greater than the February 2017 figure.

Public construction decreased 2.1% to $291.1 billion SAAL. February’s figure is 1.6% above the February 2017 estimate.

Read the Census release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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