By Jann Swanson
Posted To: MND NewsWire
Overall construction spending in the U.S. was essentially unchanged from January to February and there was only slight movement in both public and private sector spending. There was, however, a considerable increase in spending on private multi-family residential construction. The U.S. Census Bureau said today that construction put in place in February was at a seasonally adjusted annual rate of $967.2 billion, down 0.1 percent from January’s estimate of 967.9 billion. The February 2015 number was 2.1 percent higher than the annual rate of $947.1 billion estimated for a year earlier. Residential spending was also down 0.1 percent from the previous month to an annual rate of $355.6 billion which was 1.9 percent lower than the $362.3 billion spending rate in February 2014. On a non-adjusted basis…(read more)
Via:: Multi-family Spending only Bright Spot in Construction News
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