The U.S. Census Bureau announced the value put in place of construction for February 2019 was estimated at a seasonally adjusted annual rate of $1,320.3 billion, 1.0 percent above the revised January estimate of $1,307.3 billion. The February figure is 1.1 percent above the February 2018 estimate of $1,305.5 billion. During the first two months of this year, construction spending amounted to $181.9 billion, 1.4 percent above the $179.4 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Spending on private construction was at a seasonally adjusted annual rate of $994.5 billion, 0.2 percent above the revised January estimate of $993.0 billion. Residential construction was at a seasonally adjusted annual rate of $540.9 billion in February, 0.7 percent above the revised January estimate of $536.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $453.6 billion in February, 0.5 percent below the revised January estimate of $456.0 billion.

PUBLIC CONSTRUCTION:
In February, the estimated seasonally adjusted annual rate of public construction spending was $325.8 billion, 3.6 percent above the revised January estimate of $314.4 billion. Educational construction was at a seasonally adjusted annual rate of $76.3 billion, 0.8 percent above the revised January estimate of $75.7 billion. Highway construction was at a seasonally adjusted annual rate of $111.1 billion, 9.5 percent above the revised January estimate of $101.5 billion.  MORE