Construction Spending Falls 1.3%, Driven By Drop in Residential Spending

In February, new construction spending fell 1.3%, which was the fourth consecutive drop. The decline was driven by a 2.1% decreases in private residential spending. Residential spending has been volatile over the past number of months. From a year prior, total construction spending was down 12.9% and residential spending was down 2.1%.

Private non-residential spending fell by a lesser 0.4%. Despite the decline, this was the smallest drop in recent months. Non-residential spending was down 3.8% from a year prior. Public spending also fell over the month, declining 1.7% and was down 5.4% from a year prior.



10.04.01 (Source: Census Bureau)