Construction spending in February was estimated at a seasonally adjusted annual rate of $885.1 billion, 2 percent above the revised January estimate of $874.8 billion, according to the U.S. Census Bureau. The February figure is 7.9 percent above the February 2012 estimate of $820.7 billion.
During the first two months of this year, construction spending was $120.1 billion, 6.6 percent above the same period in 2012.
Spending on private construction was $613 billion, 1.3 percent above the revised January estimate of $605.2 billion. Residential construction was $303.4 billion in February, 2.2 percent above the revised January estimate of $296.9 billion. Nonresidential construction was $309.6 billion in February, 0.4 percent above the revised January estimate.
In February, public construction spending was $272.1 billion, 0.9 percent above the revised January estimate of $269.6 billion. Educational construction was $63.2 billion, 0.3 percent below the revised January estimate. Highway construction was $81.4 billion, 3.4 percent above the revised January estimate.