Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $613.0 billion in February, a 1.3 percent increase from the downwardly revised January estimate of $605.2 billion. February”s results are 12.6 percent higher on a year-over-year basis. Residential construction spending increased 2.2 percent over the month, to $303.4 billion. New multi-family construction spending fell 2.2 percent in February, but is still up 51.8 percent year-over-year. New single-family construction posted a monthly gain of 4.3 percent. Private nonresidential construction spending was at $309.6 billion, 0.4 percent above the revised January estimate of $308.3 billion. The communication sector fell 9.2 percent over the month, and the transportation sector posted its fourth straight month of declines, falling 2.4 percent since January.