US Construction Spending Up 3% from 2016

The U.S. Department of Commerce is reporting that total construction spending in February was estimated at a seasonally adjusted annual rate of $1,19 trillion, which is 3% higher than February 2016.  Private residential construction was at a seasonally adjusted annual rate of $484.7 billion in February, 1.8% higher than January’s number. Nonresidential construction was at a seasonally adjusted annual rate of $432.7 billion in February, 0.3% below January’s number.  Public construction spending was $275.5 billion in February.

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