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Construction Spending Annual Rates for February 2016

By April 1, 2016 November 19th, 2019 Construction Law

According to the U.S. Census Bureau of the Department of Commerce, total construction spending for February 2016 was estimated at a seasonally adjusted annual rate of $1,144.0 billion.  This rate is a decrease of 0.5 percent from the revised January estimate of $1,150.1 billion.  Compared to a year ago, the February rate is up 10.3 percent from that of the February 2015 rate, which was estimated at $1,037.5 billion.  So far this year, construction spending has totaled $157.1 billion, an increase of 11.2 percent compared to the $141.3 billion for the first two months of 2015.

Private construction spending was estimated at a seasonally adjusted annual rate of $846.2 billion, down a slight 0.1 percent from January’s revised estimate of $847.2 billion.  Residential construction spending for February was at a seasonally adjusted annual rate of $447.9 billion, up 0.9 percent from the previous month’s revised estimate of $443.8 billion.  Nonresidential construction spending for February was estimated at $398.3 billion, down 1.3 percent from January’s revised estimate of $403.4 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $297.8 billion, down 1.7 percent from January’s revised estimate of $302.8 billion.  Educational construction spending for February was at an adjusted rate of $66.4 billion, down 4.2 percent from the revised January estimate of $69.3 billion.  Highway construction spending was estimated at an adjusted rate of $99.6 billion for February, decreasing by 2.1 percent from January’s revised estimate of $101.7 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.

 

Author Eli Robbins

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