Construction in the U.S. dropped by a little more than 1 percent in February, according to data that measure the dollar value of the volume of construction performed nationwide, released by the U.S. Census Bureau today.
The $808.9 billion spent on construction in the U.S. was down 1.1 percent from December’s total of $818.1 billion. Of that, $527.29 million was spent privately, with $280.84 million spent on residential construction, relatively even from the amount spent in January — $246.39 million — and up 5.6 percent year-over-year, from $233.40 in February 2011.
On lodging, office and other commercial construction, $246.45 million was spent privately, down 1.6 percent month-over-month, to $285.31 million. That amount also reflects a 14.5 percent increase year-over-year, up from $245.3 million.
In terms of publicly funded construction, $7 million was spent on residential construction, down 1 percent from $7.08 million the month prior, and 21.9 percent from last year, when $8.97 million was spent. Whereas on the commercial side, $274.55 million was spent in February, according to the numbers — down 1.7 percent, from $279.30 million month-over-month, and 0.7 percent year-over-year, from $276.53 million. — Guelda Voien