U.S. Construction continues slide in February
$760.6 billion annual rate is 6.8 percent off February 2010 pace.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during February 2011 was estimated at a seasonally adjusted annual rate of $760.6 billion, 1.4 percent (±1.4%)* below the revised January estimate of $771.0 billion. The February figure is 6.8 percent (±1.6%) below the February 2010 estimate of $815.8 billion.
During the first 2 months of this year, construction spending amounted to $103.7 billion, 8.2 percent (±1.6%) below the $112.9 billion for the same period in 2010.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $468.0 billion, 1.4 percent (±1.3%) below the revised January estimate of $474.6 billion. Residential construction was at a seasonally adjusted annual rate of $228.5 billion in February, 3.7 percent (±1.3%) below the revised January estimate of $237.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $239.6 billion in February, 0.9 percent (±1.3%)* above the revised January estimate of $237.4 billion.
PUBLIC CONSTRUCTION
In February, the estimated seasonally adjusted annual rate of public construction spending was $292.5 billion, 1.3 percent (±1.9%)* below the revised January estimate of $296.4 billion. Educational construction was at a seasonally adjusted annual rate of $67.1 billion, 3.7 percent (±3.5%) below the revised January estimate of $69.6 billion. Highway construction was at a seasonally adjusted annual rate of $83.8 billion, 0.4 percent (±6.4%)* above the revised January estimate of $83.4 billion.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
