Construction spending rose to a seasonally adjusted annual rate of $1,273.1 in February. This was just 0.1% above January’s estimate which was revised up from $1,262.8 billion to $1,272.2 billion. December’s estimate was also revised up from to $1,262.7 billion to $1,272.6 billion. Construction spending for February 2018 was 3.0% higher year-over-year compared to the $1,235.7 billion estimate from February 2017.

Total construction put in place (CPIP) for the first two months of 2018 was $176.3 billion, a 4.4% increase over the first two months of 2017 where total CPIP was $168.9 billion.

Total nonresidential construction spending was at a seasonally adjusted annual rate of $732.8 billion, up 0.1% from January’s estimate which has been revised down from $732.9 billion to $732.4 billion.

Total residential construction was at an estimated seasonally adjusted annual rate of $540.3 billion in February 2018. This is up 0.1% over January’s estimate which was revised up from $529.9 billion to $539.9 billion.

Total private construction spending was up 0.7% in February to a seasonally adjusted annual rate of $982.0 billion compared to January’s estimate which has been revised up from $962.7 billion to $974.8 billion. December’s estimate has also been revised up from $967.9 billion to $982.1 billion.

February’s estimate for private nonresidential construction spending was at a seasonally annual adjusted rate of $448.6 billion, a 1.5% increase from January’s estimate which was revised up from $439.6 billion to $441.9 billion. Private residential construction spending was at a seasonally adjusted annual rate of $533.4 billion in February, up just 0.1% from January’s estimate which was revised up from $523.2 billion to $532.9 billion.

The seasonally adjusted annual rate for public construction spending in February was $291.1 billion, a 2.1% drop from January’s estimate which was revised down from $300.1 billion to $297.4 billion. December’s estimate was revised back up from $287.8 billion to 290.6 billion.

February estimate for public construction spending is 1.6% above the February 2017 estimate of $286.4 billion.