Construction spending during February 2024 was estimated at a seasonally adjusted annual rate of $2,091.5 billion, 0.3% below the revised January estimate of $2,096.9 billion, according to the U.S. Census Bureau. The February figure is 10.7% above the February 2023 estimate of $1,889.6 billion. During the first two months of this year, construction spending amounted to $298.1 billion, 11.9% above the $266.5 billion for the same period in 2023. Spending on private construction was at a seasonally adjusted annual rate of $1,617.1 billion, virtually unchanged from the revised January estimate of $1,616.8 billion. ... (full story)