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Industry News / Industry Statistics

April 4, 2019

Construction Spending Climbs for Third Consecutive Month in February

U.S construction spending rose 1 percent in February to $1,320.3 billion, the third consecutive monthly increase and the highest level in nine months. On a year-to-year basis, construction spending increased 1.1 percent.

The Commerce Department revised its January construction spending report, from the previously reported 1.3 percent increase to a 2.5 percent jump.

Spending on private construction projects was at a seasonally adjusted annual rate of $994.5 billion, up 0.2 percent in February

Public construction spending climbed 3.6 percent to $325.8 billion. Spending on federal government construction projects rose 0.9 percent to its highest level since October 2017. State and local government construction projects increased 3.8 percent.

Spending on private nonresidential structures fell 0.5 percent in February.

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