The attached file contains this articles commentary as well as tables and charts of the data.
Construction Spending: Modest Improvement in February
April 3, 2017
Bottom Line: Public construction rose in February as January's data was revised higher, falling less than previously reported, especially in the public construction category. Nonetheless, public construction remains a drag on overall construction activity. Private residential construction is improving again and commercial and office construction continues to grow steadily.
Construction Spending ROSE by 0.8% in February, compared with market expectations for an increase of 1.0%.
The January estimate was revised modestly higher from -1.0% to -0.4%, while the December, estimate was revised modestly lower from 0.1% to -0.2%. Construction spending is now 3.0% ABOVE its year ago level but still 1.0% below its March 2006 peak.
Residential Construction ROSE by 1.8%, Homebuilding is now 6.4% ABOVE its year ago level.
Nonresidential Construction FELL by 0.3%. Nonresidential construction growth is now 7.5% ABOVE its year ago level.
Public Construction ROSE by 0.6%, and is now 8.0% BELOW its year ago level.