Construction spending climbed 1.0% in February to a seasonally adjusted annual rate of $1,320.3 billion. January’s estimate was revised up from $1,279.6 billion to $1,307.3 billion. December’s estimate was revised back up from $1,263.1 billion to $1,276.0 billion.
The February estimate for total construction spending is 1.1% higher than a year ago when the February 2018 estimate was $1,305.5 billion. Total construction put in place (CPIP) for the first two months of 2019 totaled $181.9 bill. This is a 1.4% increase over the $179.4 billion spent during January and February of 2018.