Prior month -0.2%
Building spending for February -0.3% versus 0.7% anticipated. Largest drop since October 2022
whole development spending got here in at $2091.5 billion versus $2096.9 billion in January
YoY development spending 10.7%
For the primary two months of the yr, +11.9% versus the identical 2-month interval in 2023

Taking a look at personal and public development

Personal Building was combined with residential development growing and nonresidential development lowering:
- Complete spending was roughly $1,617.1 billion, nearly unchanged from January’s $1,616.8 billion.
- Residential development spending elevated by 0.7%, reaching $901.1 billion.
- Nonresidential development spending decreased by 0.9%, totaling $716.0 billion.
Public Building was weaker:
- Complete spending was $474.4 billion, down by 1.2% from January’s $480.1 billion.
- Academic development spending fell by 1.8% to $100.5 billion.
- Freeway development spending decreased by 1.6%, amounting to $147.3 billion