Updated: 01-Apr-25 10:48 ET
| February Construction Spending |
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| Updated: 01-Apr-25 10:48 ET |
Highlights
- Total construction spending increased 0.7% month-over-month in February (Briefing.com consensus 0.4%) after decreasing a revised 0.5% (from -0.2%) in January.
- Total private construction was up 0.9% month-over-month while total public construction was up 0.2% month-over-month.
- On a year-over-year basis, total construction spending was up 2.9%.
Key Factors
- Total residential spending increased 1.3% month-over-month while nonresidential spending was up 0.3% month-over-month.
- In private construction, residential spending was up 1.3%, led by a 1.0% increase in single family construction while multifamily construction was little changed. Nonresidential spending was up 0.3%, led by a 4.2% increase in religious construction. Commercial spending was up 1.1%.
- In public construction, nonresidential spending was up 0.2% month-over-month, led by a 4.1% increase in commercial spending.
Big Picture
- The key takeaway from the report is that residential spending rebounded after a poor January, which is encouraging for longer term health of the housing market.
| Category | FEB | JAN | DEC | NOV | OCT |
| Nominal (Current) Dollars | |||||
| Total Construction | 0.7% | -0.5% | 0.3% | 0.4% | 1.6% |
| Private | 0.9% | -0.7% | 0.4% | 0.5% | 1.9% |
| Residential | 1.3% | -1.2% | 0.3% | 0.3% | 3.4% |
| Nonresidential | 0.4% | -0.2% | 0.5% | 0.7% | 0.0% |
| Public | 0.2% | 0.2% | -0.1% | 0.1% | 0.7% |
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