February 2019 Construction Spending
The U.S. Census Bureau announced construction spending for February 2019 was at a seasonally adjusted annual rate of $1,320 billion, 1.0 percent above the revised estimate of $1,307 billion in January. Compared to the same period last year, February was up 1.1 percent. For the first two months of the year, construction spending was $182 billion, up 1.4 percent for the same period last year.
While private construction spending in February was $994 billion, 0.2 percent above the revised January estimate of $993 billion; public construction spending was $326 billion, 3.6 percent above last month’s revised estimates of $314 billion. Compared to the same period last year, public construction was up 11.5 percent.
There were several contributors to public construction spending growth in February. The main contributor was Highway construction which was $111 billion, up 9.5 percent from revised January estimates of $101 billion. Compared to the same period last year, Highway construction is up 22.8 percent.
More information may be found at: https://www.census.gov/construction/c30/pdf/release.pdf