Construction spending was at a seasonally adjusted annual rate of $1,704.4 billion in February, 0.5% above the revised January estimate of $1,695.5 billion. February figure is 11.2% above the February 2021 estimate of $1,533.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,353.7 billion, 0.8% above the revised January estimate of $1,343.4 billion. Private residential construction was at a seasonally adjusted annual rate of $850.6 billion in February, 1.1% above the revised January estimate of $841.2 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $503.0 billion in February, 0.2% above the revised January estimate of $502.2 billion.
In February, the estimated seasonally adjusted annual rate of public construction spending was $350.7 billion, 0.4% below the revised January estimate of $352.2 billion.
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