Source: U.S. Department of Commerce: Census Bureau
Construction spending in February 2014 was estimated at a seasonally adjusted annual rate of $945.7 billion, according to the U.S. Census Bureau and Commerce Department. This is an increase of 8.7 percent compared with the February 2013 rate, an estimated $869.9 billion, and a 0.1 percent increase from the January 2014 rate of $944.6 billion.
So far through 2014, construction spending has totaled $128 billion, an 8.9 percent increase compared with the $117.5 billion for the first two months of last year.
Construction spending is determined by the bureau’s “Value of Construction Put in Place Survey,” which offers monthly estimates of the total dollar value of construction work done in the United States. The survey covers construction work done each month on new structures or improvements to existing structures for both private and public sectors.
The chart was provided by the Federal Reserve Bank of St. Louis.
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