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U.S. Construction Dips in February

So far in 2012, construction exceeds 2011 by 7.4 percent.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during February 2012 was estimated at a seasonally adjusted annual rate of $808.9 billion, 1.1 percent (±1.3%)* below the revised January estimate of $818.1 billion. The February figure is 5.8 percent (±1.8%) above the February 2011 estimate of $764.2 billion.

During the first 2 months of this year, construction spending amounted to $111.3 billion, 7.4 percent (±1.6%) above the $103.7 billion for the same period in 2011.

US Construction Put In Place 2011
(in Millions)

                   January 2011 ---------------------------------------December 2011


PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $527.3 billion, 0.8 percent (±1.1%)* below the revised January estimate of $531.7 billion.

Residential construction was at a seasonally adjusted annual rate of $246.5
billion in February, nearly the same as (±1.3%)* the revised January estimate of $246.4 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $280.8 billion in February, 1.6 percent (±1.1%) below the revised January estimate of $285.3 billion.

PUBLIC CONSTRUCTION
In February, the estimated seasonally adjusted annual rate of public construction spending was $281.6 billion, 1.7 percent (±1.8%)* below the revised January estimate of $286.4 billion.

Educational construction was at a seasonally adjusted annual rate of $69.4 billion, 2.5 percent (±3.5%)* below the revised January estimate of $71.2 billion.

Highway construction was at a seasonally adjusted annual rate of $79.4 billion, 2.6 percent (±5.1%)* below the revised January estimate of $81.5 billion.

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