Construction spending -0.8% in February

Total Construction
Construction spending during February 2021 was estimated at a seasonally adjusted annual rate of
$1,516.9 billion, 0.8 percent (±0.7 percent) below the revised January estimate of $1,529.0 billion. The
February figure is 5.3 percent (±1.0 percent) above the February 2020 estimate of $1,441.1 billion. During
the first two months of this year, construction spending amounted to $213.2 billion, 4.9 percent (±1.0
percent) above the $203.2 billion for the same period in 2020.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,165.7 billion, 0.5 percent
(±0.7 percent) below the revised January estimate of $1,171.6 billion. Residential construction was at a
seasonally adjusted annual rate of $717.9 billion in February, 0.2 percent (±1.3 percent) below the revised January estimate of $719.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.8 billion in February, 1.0 percent (±0.7 percent) below the revised January estimate of $452.3 billion.

Public Construction
In February, the estimated seasonally adjusted annual rate of public construction spending was $351.2
billion, 1.7 percent (±1.2 percent) below the revised January estimate of $357.4 billion. Educational
construction was at a seasonally adjusted annual rate of $86.9 billion, 3.2 percent (±1.3 percent) below the
revised January estimate of $89.8 billion. Highway construction was at a seasonally adjusted annual rate of $102.3 billion, 0.6 percent (±3.1 percent) below the revised January estimate of $103.0 billion.