Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $680.0 billion in February, 0.1 percent above the upwardly revised January estimate of $679.1 billion. February’s results are 13.0 percent higher year-over-year. Residential construction spending fell 0.8 percent over the month, to $360.4 billion. New single-family construction fell 1.1 percent, but is still up 13.6 percent since last February. New multifamily construction spending grew 2.6 percent in February and is up 29.7 percent year-over-year. Private nonresidential construction spending was at $319.6 billion, 1.2 percent above the revised January estimate of $315.8 billion. Six of the eleven nonresidential construction sectors saw month-to-month declines in spending, with the religious sector posting the largest monthly decline of 6.9 percent. The communication sector registered the largest monthly increase of 6.4 percent.