Construction Spending Flat From January

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April 2, 2007

Construction Spending Flat From January

Construction spending during February 2007 was estimated at a seasonally adjusted annual rate of $1,170.8 billion, 0.3 percent (±1.4%)* above the revised January estimate of $1,167.7 billion, according to the U.S. Census Bureau of the Department of Commerce. The February figure is 2.4 percent (±2.2%) below the February 2006 estimate of $1,199.9 billion.

During the first 2 months of this year, construction spending amounted to $159.9 billion, 2.4 percent (±2.2%) below the $163.8 billion for the same period in 2006.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $884.4 billion, 0.2 percent (±1.4%)* above the revised January estimate of $882.5 billion. Residential construction was at a seasonally adjusted annual rate of $562.4 billion in February, 1.0 percent (±1.3%)* below the revised January estimate of $567.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $322.0 billion in February, 2.3 percent (±1.4%) above the revised January estimate of $314.6 billion.

Public Construction

In February, the estimated seasonally adjusted annual rate of public construction spending was $286.4 billion, 0.4 percent (±2.1%)* above the revised January estimate of $285.2 billion. Educational construction was at a seasonally adjusted annual rate of $74.5 billion, 0.4 percent (±4.0%)* above the revised January estimate of $74.2 billion. Highway construction was at a seasonally adjusted annual rate of $78.8 billion, 0.4 percent (±5.0%)* above the revised January estimate of $78.5 billion.

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