{"id":1004171426,"date":"2017-04-04T05:26:13","date_gmt":"2017-04-04T13:26:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004171426"},"modified":"2022-12-06T15:13:55","modified_gmt":"2022-12-06T23:13:55","slug":"economy-watch-driven-by-residential-construction-spending-enjoys-february-gain","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-driven-by-residential-construction-spending-enjoys-february-gain\/","title":{"rendered":"Economy Watch: Driven by Residential, Construction Spending Enjoys February Gain"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004171435\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-driven-by-residential-construction-spending-enjoys-february-gain\/census-bureau-construction-spending-0217\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg\" data-orig-size=\"500,334\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Census Bureau construction spending 0217\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg?w=500\" class=\"alignright wp-image-1004171435\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg\" alt=\"Census Bureau construction spending 0217\" width=\"400\" height=\"267\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Census-Bureau-construction-spending-0217.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a>U.S. construction spending during February came in at an annualized rate of $1.192 trillion, or <a href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-construction-spending-dips-in-january-2\/\">0.8 percent above the January figure<\/a>, the Census Bureau reported on Monday. The February figure is also 3 percent above the February 2016 total.<\/p>\n<p>Both private and public spending were up for the month, which is a little unusual, since public construction spending has been drooping in recent years. Nevertheless, spending on private construction was at an annualized rate of $917.3 billion in February, or 0.8 percent above the January total. As for public construction spending, the annualized rate was $275.5 billion, or 0.6 percent above the January total.<\/p>\n<p>Residential spending was in the driver&#8217;s seat for the month. Total spending on residential construction was up 1.8 percent for the month and 6.2 percent for the year. Nonresidential construction spending stayed the same in February compared with January, but was up 1 percent for the year.<\/p>\n<p>Office construction spending, which has been robust lately\u2014up 20.6 percent for the year in February\u2014eked out a 0.1 percent gain for the month. Likewise, hotel construction spending gained 13.9 percent for the year, but actually dropped 0.5 percent for the month. Spending on various kinds of infrastructure has been dropping recently: transportation was down 10.6 percent for the year; sewage and waste disposal (down 27.7 percent); and water supply (down 15.4 percent), and mostly saw small drops for the month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Both private and public spending were up for the month and from the same time last year, according to the Census Bureau&#8217;s latest report. <\/p>\n","protected":false},"author":1023,"featured_media":1004171435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[32915],"class_list":["post-1004171426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","tag-united-states-census-bureau"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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