Early 2017 Value of New Construction Data Shows Sluggish Month-Over Month Activity

The U.S. Department of Commerce said construction spending during February 2017 was estimated at a seasonally adjusted annual rate of $1,192.8 billion, 0.8% above the revised January estimate of $1,183.8 billion. The February figure is 3% above the February 2016 estimate of $1,157.7 billion. During the first two months of this year, construction spending amounted to $163.3 billion, 3% above the $158.5 billion for the same period in 2016.

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