February construction spending was estimated at a seasonally adjusted annual rate of $1,144 billion, 0.5 percent below the revised January estimate of $1,150.1 billion, according to the U.S. Census Bureau of the Department of Commerce. The February figure is 10.3 percent above the February 2015 estimate of $1,037.5 billion.
In February, spending on private construction was at a seasonally adjusted annual rate of $846.2 billion, 0.1 percent below the revised January estimate of $847.2 billion. Residential construction was at a seasonally adjusted annual rate of $447.9 billion in February, 0.9 percent above the revised January estimate of $443.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $398.3 billion in February, 1.3 percent below the revised January estimate of $403.4 billion.
In February, the estimated seasonally adjusted annual rate of public construction spending was $297.8 billion, 1.7 percent below the revised January estimate of $302.8 billion. Educational construction was at a seasonally adjusted annual rate of $66.4 billion, 4.2 percent below the revised January estimate of $69.3 billion. Highway construction was at a seasonally adjusted annual rate of $99.6 billion, 2.1 percent below the revised January estimate of $101.7 billion.
