Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
February sees dip in US construction spending, but yearly growth signals resilience

February sees dip in US construction spending, but yearly growth signals resilience

Posted on April 5, 2024   |  

In February, the total construction spending was around $2,091.5 billion, slightly lower by 0.3% compared to January's revised estimate of $2,096.9 billion. Yet, it stood significantly higher by 10.7% compared to February 2023's estimate of $1,889.6 billion.

During the initial two months of 2024, construction spending totaled approximately $298.1 billion, marking an impressive 11.9% increase from the $266.5 billion recorded in the same period of 2023.

Private construction spending in February remained stable at about $1,617.1 billion, nearly the same as January's revised estimate.

Residential construction slightly increased, reaching around $901.1 billion in February, up by 0.7% from January's revised estimate.

Nonresidential construction experienced a small decline, amounting to approximately $716.0 billion in February, down by 0.9% from January's revised estimate.

Public construction spending in February was estimated at $474.4 billion, down by 1.2% from January's revised estimate.

Educational construction reached around $100.5 billion, down by 1.8% from January's revised estimate, while highway construction amounted to about $147.3 billion, showing a decline of 1.6% from January's revised estimate.



Previous Next