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February Construction Spending Grows 8.7% YOY

February 2014 construction spending was estimated at $945.7 billion, a slight increase from the revised January estimate, according to the U.S. Census Bureau. The February 2014 figure is 8.7 percent above the February 2013 estimate.

During the first two months of the year, construction spending was $128 billion, 8.9 percent above the same period in 2013.

Private construction was $680 billion, a 0.1 percent increase from the revised January estimate. Residential construction was $360.4 billion, down 0.8 percent from January. Nonresidential construction was $319.6 billion, up 1.2 percent from January.

Public construction was $265.7 billion, a 0.1 percent increase from the revised January estimate. Educational construction was $59.5 billion, a 1.2 percent decrease. Highway construction was $85.6 billion, up 1.4 percent from January.

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