Electricalmarketing 396 20160408emvalcon1595
Electricalmarketing 396 20160408emvalcon1595
Electricalmarketing 396 20160408emvalcon1595
Electricalmarketing 396 20160408emvalcon1595
Electricalmarketing 396 20160408emvalcon1595

February Value of New Construction Pegs 10.3% YOY Increase to $1,114 Billion

April 8, 2016
Construction spending during Feb. 2016 was estimated at a seasonally adjusted annual rate of $1,144 billion, 0.5% below the revised January estimate of $1,150.1 billion.

The U.S. Department of Commerce recently announced that construction spending during Feb. 2016 was estimated at a seasonally adjusted annual rate of $1,144 billion, 0.5% below the revised January estimate of $1,150.1 billion. The February figure is 10.3% above the Feb. 2015 estimate of $1,037.5 billion. During the first two months of this year, construction spending amounted to $157.1 billion, 11.2% above the $141.3 billion for the same period in 2015.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $846.2 billion, 0.1% below the revised January estimate of $847.2 billion. Residential construction was at a seasonally adjusted annual rate of $447.9 billion in February, 0.9% above the revised January estimate of $443.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.3 billion in February, 1.3% below the revised January estimate of $403.4 billion. In February, the estimated seasonally adjusted annual rate of public construction spending was $297.8 billion, 1.7% below the revised January estimate of $302.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.2% below the revised January estimate of $69.3 billion.

Public construction. In February, the estimated seasonally adjusted annual rate of public construction spending was $297.8 billion, 1.7% below the revised January estimate of $302.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.2% below the revised January estimate of $69.3 billion.