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Construction Spending Rises in February03-30-07 | News

Construction Spending Rises in February

WASHINGTON D.C. ?EUR??,,????'??+ Construction spending during February 2007 was estimated at a seasonally adjusted annual rate of $1.171 billion, 0.3 percent above the revised January estimate of $1.168 billion. The February figure is 2.4 percent below the February 2006 estimate of $1.2 billion.

During the first two months of this year, construction spending amounted to $159.9 billion, 2.4 percent below the $163.8 billion for the same period in 2006.

Spending on private construction was at a seasonally adjusted annual rate of $884.4 billion, 0.2 percent above the revised January estimate of $882.5 billion. Residential construction was at a seasonally adjusted annual rate of $562.4 billion in February, one percent below the revised January estimate of $567.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $332 billion in February, 2.3 percent above the revised January estimate of $314.6 billion.

In February, the estimated seasonally adjusted annual rate of public construction spending was $286.4 billion, 0.4 percent 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 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 above the revised January estimate of $78.5 billion.