Construction Spending Moves Forward in February

Construction spending during February 2025 was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7 percent above the downward revised January estimate of $2,179.9 billion. The February figure is 2.9 percent above the February 2024 estimate of $2,133.8 billion. During the first two months of this year, construction spending amounted to $311.1 billion, 2.1 percent above the $304.8 billion for the same period in 2024.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,686.4 billion, 0.9 percent above the revised January estimate of $1,671.8 billion. Residential construction was at a seasonally adjusted annual rate of $928.9 billion in February, 1.3 percent above the revised January estimate of $917.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $757.5 billion in February, 0.4 percent above the revised January estimate of $754.8 billion.

Public Construction

In February, the estimated seasonally adjusted annual rate of public construction spending was $509.3 billion, 0.2 percent above the revised January estimate of $508.1 billion. Educational construction was at a seasonally adjusted annual rate of $110.8 billion, 0.3 percent above the revised January estimate of $110.4 billion. Highway construction was at a seasonally adjusted annual rate of $147.2 billion, 1.2 percent above the revised January estimate of $145.4 billion.

 BY THE NUMBERS:

TOTALin millions:	February 2025 $2,195,755
Private Sector:	$                1,686,409 (76.80% of total)
Residential	$                   928,893 (42.30%)
Nonresidential	$                  757,516 (34.50%)
Public Sector:	$                  509,346 (23.20% of total)
State/Local	$                  472,115 (21.50%)
Federal	$                    37,231 (  1.70%)