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Single-Family, Public Construction Spending on Upswing
Wednesday, April 1, 2020
Nationwide outlays for construction slipped slightly in February.
The Census Bureau said public and private sources spent at a seasonally
adjusted annual rate of $1.367 trillion on all forms of construction, down 1.3
percent from the rate in January. This was 6.0 percent more than was expended
in February 2019. The total spent during the month on a non-adjusted basis was
$96.999 billion, up slightly from the $96.462 billion spent in January. For the
year-to-date (YTD) spending totals $193.460 billion, an increase of 8.2 percent
from the first two months of 2019. Privately funded projects were funded at a seasonally
adjusted annual rate of $1.026 trillion, down from $1.039 trillion in January,
a 1.2 percent decline. That spending rate, however, is 5.6 percent higher than
the rate in February of last year. Non-adjusted spending rose from $74.764
billion in January to $75.091 billion in February and is 7.4 percent higher YTD.
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