Steel Markets
April 2, 2019
Construction Spending Edges Up in February
Written by Sandy Williams
Construction spending increased 1.0 percent in February following a 2.5 percent gain in January, reported the Associated General Contractors of America in its latest analysis of government data.
Construction spending totaled $1.32 trillion in February, up 1.0 percent from the January rate and a gain of 1.1 percent compared to February 2018. Public construction accounted for the bulk of the monthly and annual increases, while private categories were mixed, noted AGC economist Ken Simonson. Public construction spending jumped 3.6 percent for the month and 11.5 percent year-over-year. The largest public category, highway and street construction, soared 22.8 percent from a year ago. Educational construction, the next-largest segment, rose 5.5 percent year-over-year.
