February Value of New Construction Pegs 10.3% YOY Increase to $1,114 Billion

February Value of New Construction Pegs 10.3% YOY Increase to $1,114 Billion

The U.S. Department of Commerce recently announced that construction spending during Feb. 2016 was estimated at a seasonally adjusted annual rate of $1,144 billion, 0.5% below the revised January estimate of $1,150.1 billion. The February figure is 10.3% above the Feb. 2015 estimate of $1,037.5 billion. During the first two months of this year, construction spending amounted to $157.1 billion, 11.2% above the $141.3 billion for the same period in 2015.

Private construc

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