U.S. construction spending ticks up 1 percent in February
Only nonresidential work dips 0.5 percent for month.
The U.S. Census Bureau announced the following value put in place construction statistics
for February 2019:
Total Construction
Construction spending during February 2019 was estimated at a seasonally adjusted annual rate of $1,320.3 billion, 1.0 percent (±0.8 percent) above the revised January estimate of $1,307.3 billion. The February figure is 1.1 percent (±1.5 percent)* above the February 2018 estimate of $1,305.5 billion.
During the first two months of this year, construction spending amounted to $181.9 billion, 1.4 percent (±1.3 percent) above the $179.4 billion for the same period in 2018.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $994.5 billion, 0.2 percent (±0.8 percent)* above the revised January estimate of $993.0 billion.
Residential construction was at a seasonally adjusted annual rate of $540.9 billion in February, 0.7 percent (±1.3 percent)* above the revised January estimate of $536.9 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $453.6 billion in February, 0.5 percent (±0.8 percent)* below the revised January estimate of $456.0 billion.
Public Construction
In February, the estimated seasonally adjusted annual rate of public construction spending was $325.8 billion, 3.6 percent (±1.6 percent) above the revised January estimate of $314.4 billion.
Educational construction was at a seasonally adjusted annual rate of $76.3 billion, 0.8 percent (±2.0 percent)* above the revised January estimate of $75.7 billion.
Highway construction was at a seasonally adjusted annual rate of $111.1 billion, 9.5 percent (±5.3 percent) above the revised January estimate of $101.5 billion.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
