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Construction spending up 1.2 percent in February

Posted By Amanda Bayhi On April 5, 2013 @ 10:24 am In Aggbeat Online,News | No Comments

home construction [1]

Our sister site, Equipment World, reported [2] this week on a 1.2-percent increase in construction spending  in February.

These figures follow a 2.1-percent decrease in January, bringing the seasonally adjusted rate to $885.1 billion. That number up 7.9 percent year-over-year, and Equipment World reports that it is expected to continue to increase.

February home construction was up 2 percent over January, bringing the seasonally adjusted annual rate to a four-year high of $309.5 billion, a 19.2-percent increase from a year ago.

Private residential construction increased by 2.2 percent in February, reaching a seasonally adjusted annual rate of $303.4, the best level since November 2008.

Nonresidential construction increased 0.7 percent in February to a seasonally adjusted annual rate of $575.5 billion.

Read the full story at equipmentworld.com [2].


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URL to article: http://www.aggman.com/construction-spending-up-1-2-percent-in-february/

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[1] Image: http://www.aggman.com/files/2013/04/home-const.jpg

[2] Equipment World, reported: http://www.equipmentworld.com/construction-spending-feb-2013/

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