According to the U.S. Census Bureau of the Department of Commerce, total construction spending for February 2015 was estimated at a seasonally adjusted annual rate of $967.2 billion. This rate is a slight decrease of 0.1 percent from the revised January estimate of $967.9 billion. Compared to a year ago, the February rate is up 2.1 percent from that of the February 2014 rate, which was estimated at $947.1 billion. So far this year, construction spending has totaled $132.9 billion, an increase of 2.0 percent compared to the $130.3 billion for the first two months of 2014.
Private construction spending was estimated at a seasonally adjusted annual rate of $698.2 billion, which is up 0.2 percent from January’s revised estimate of $696.9 billion. Residential construction spending for February was at a seasonally adjusted annual rate of $349.9 billion, down 0.2 percent from the previous month’s revised estimate of $350.5 billion. Nonresidential construction spending for February was estimated at $348.4 billion, up 0.5 percent from January’s revised estimate of $346.5 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $268.9 billion, down 0.8 percent from January’s revised estimate of $271.0 billion. Educational construction spending for February was at an adjusted rate of $59.1 billion, up 0.2 percent from the revised January estimate of $58.9 billion. Highway construction spending was estimated at an adjusted rate of $82.8 billion for February, decreasing by 0.2 percent from January’s revised estimate of $83.0 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
