Value of New Construction Spending Registers 8.7% YTY Increase in February

Value of New Construction Spending Registers 8.7% YTY Increase in February

The U.S. Census Bureau said construction spending during Feb. 2014 was estimated at a seasonally adjusted annual rate of $945.7 billion, 0.1% above the revised January estimate of $944.6 billion. The February figure is 8.7% above the February 2013 estimate of $869.9 billion. During the first two months of this year, construction spending amounted to $128 billion, 8.9% above the $117.5 billion for the same period in 2013.

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