image credit: 401(K) 2012 / flickr

Nonresidential spending expands again in February

April 2, 2019

According to an Associated Builders and Contractors analysis of U.S. Census Bureau data released today, national nonresidential construction spending rose 1.2% in February. Seasonally adjusted nonresidential spending totaled $773.8 billion, a 4.8% increase over the same time last year.

Private nonresidential spending fell 0.5% for the month and is only up 0.1% on a year-over-year basis. Public nonresidential spending is up 3.7% for the month and an impressive 12.1% for the year. Highway and street (+9.6%), water supply (+5.2%) and sewage and waste disposal (+5%) spending experienced the largest monthly increases in February, while religious (-4%) and transportation (-3.8%) spending experienced the largest decreases.

Read More on BDCNetwork