U.S. Construction Up 3% Year-Over-Year

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The U.S. Census Bureau is reporting that total construction spending in February was estimated at a seasonally adjusted annual rate of $1.2 trillion, which was barely above January’s revised estimate.  However, February’s number is 3% higher than February 2017.  In addition, private residential construction was at a seasonally adjusted annual rate of $533.4 billion in February, and nonresidential construction was $448.6 billion.  Total public construction spending was $291.1 billion, which was 2.1% lower than January’s estimate.

Click here to read the full release on Census.gov.

 

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Director of Education & Outreach, National Real Estate Investors Association

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