The U.S. Census Bureau is reporting that total construction spending in February was estimated at a seasonally adjusted annual rate of $1.2 trillion, which was barely above January’s revised estimate. However, February’s number is 3% higher than February 2017. In addition, private residential construction was at a seasonally adjusted annual rate of $533.4 billion in February, and nonresidential construction was $448.6 billion. Total public construction spending was $291.1 billion, which was 2.1% lower than January’s estimate.
Click here to read the full release on Census.gov.