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Posted April 1, 2021

U.S. construction spending dips 0.8 percent in February

However, YOY spending tracks at 4.9 percent over February 2020.


The U.S. Census Bureau announced the following value put in place construction statistics
for February 2021:

Total Construction
Construction spending during February 2021 was estimated at a seasonally adjusted annual rate of $1,516.9 billion, 0.8 percent (±0.7 percent) below the revised January estimate of $1,529.0 billion. The February figure is 5.3 percent (±1.0 percent) above the February 2020 estimate of $1,441.1 billion.

During the first two months of this year, construction spending amounted to $213.2 billion, 4.9 percent (±1.0 percent) above the $203.2 billion for the same period in 2020.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,165.7 billion, 0.5 percent (±0.7 percent)* below the revised January estimate of $1,171.6 billion.

Residential construction was at a seasonally adjusted annual rate of $717.9 billion in February, 0.2 percent (±1.3 percent)* below the revised January estimate of $719.3 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $447.8 billion in February, 1.0 percent (±0.7 percent) below the revised January estimate of $452.3 billion.

Public Construction
In February, the estimated seasonally adjusted annual rate of public construction spending was $351.2 billion, 1.7 percent (±1.2 percent) below the revised January estimate of $357.4 billion.

Educational construction was at a seasonally adjusted annual rate of $86.9 billion, 3.2 percent (±1.3 percent) below the revised January estimate of $89.8 billion.

Highway construction was at a seasonally adjusted annual rate of $102.3 billion, 0.6 percent (±3.1 percent)* below the revised January estimate of $103.0 billion.

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