Construction spending increased 0.8% in February to a seasonally adjusted annual level (SAAL) of $1,192.8 billion, according to the Census Bureau. January’s spending estimate was revised to a rate of $1,183.8 billion. February’s figure is 3.0% greater than the February 2016 estimate of $1,157.7 billion.
Private residential construction was $484.7 billion SAAL, 1.8% above January’s rate.
Private nonresidential construction was $432.7 billion, 0.3% below January’s estimate.
Public construction increased 0.6% to $275.5 billion SAAL, largely due to growth in educational and highway construction projects.
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