New construction spending in February was at a seasonally adjusted annual rate of $1,192.8 billion, a 0.8 percent increase compared with January’s $1,183.8 billion and a 3 percent increase compared with February 2016’s rate of $1,157.7 billion, according to the U.S. Census Bureau.
Private construction spending in February was at a seasonally adjusted annual rate of $917.3 percent, 0.8 percent above January’s rate of $910.0 billion. Residential construction was at a rate of $484.7 billion, a 1.8 percent increase compared with January’s rate of $476.1 billion. Nonresidential construction was at $432.7 billion, 0.3 percent below the January rate of $433.8 billion.
Read Next
