Dive summary:
- Federal figures on construction spending in February show that nonresidential outlays rose 0.7%, and the public sector – long a sinking ship as budget problems plague state and local governments – even rose 1.1% from January.
- The new data put the overall nonresidential sector up 2.6% from February 2012, though the public-spending component has not been making up ground every month and still lags 1.2% behind its level a year ago.
- Residential spending was up 2% for the month and 19.2% for 12 months, and overall spending on all types of construction was up 1.2% from January and 7.9% over the year-before total.
From the article:
Of the sixteen nonresidential construction sectors, eleven posted increases during the month of February. ...