Construction Spending Stalled for Second Month

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Posted To: MND NewsWire

Construction spending continued to have a hard time getting out of the 2018 starting blocks in February. Overall spending from both the public and private sectors did manage a tiny increase after achieving no change from December to January, but most specific categories of spending were down for the month. The Census Bureau said spending in February was at a seasonally adjusted annual rate of $1.273 trillion, an 0.1 percent increase from $1.273 trillion in January. The January number was a small upward revision from the original $1.263 trillion estimate. The months spending was up 3.5 percent when compared to February 2017. On a non-adjusted basis, spending in February was estimated at $88.280 billion compared to $88.023 billion the previous month. Year to date spending in 2018 is running 4…(read more)

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