Construction spending fell 0.8% at a seasonally adjusted annual rate (SAAR) of $1,516.9 billion in February, according to the Census Bureau. February’s figure is s 5.3% above the February 2020 estimate of $1,441.1 billion.
Spending on private construction was at a seasonally adjusted annual rate of $ $1,165.7 billion, 0.5% below the revised January estimate of $1,171.6 billion. Private residential construction was at a seasonally adjusted annual rate of $717.9 billion in February, 0.2% below the revised January estimate of $719.3 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $447.8 billion in February, 1.0% below the revised January estimate of $452.3 billion.
In February, the estimated seasonally adjusted annual rate of public construction spending was $351.2 billion, 1.7% below the revised January estimate of $357.4 billion.
Read the Census release.
