U.S. construction spending in February was a seasonally adjusted annual rate of $2,195.8 billion, an increase of 0.7% from January and 2.9% above February 2024.
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Construction spending for the first two months of the year totaled $311.1 billion, up 2.1% from the prior year period.
Spending on private construction rose 0.9% from January to $1,686.4 billion. Residential construction was $928.9 billion, up 1.3% from January, while nonresidential construction was $757.5 billion, up 0.4%.
Public construction spending was $509.3 billion, up 0.2% from January. Educational construction was $110.8 billion, up 0.3%. Highway construction was at a seasonally adjusted annual rate of $147.2 billion, an increase of 1.2%.
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