FEB. TOTAL CONSTRUCTION DOWN 0.3%
The value of Total Construction in Feb. fell 0.3% after falling 1% in Jan. and declining 1.7% in Dec. Y-o-Y Total Construction is down 3.5%.
Private Residential Construction fell 0.9% after dropping 1.9% in Jan.Year on year, Private Residential Construction is down 18.8%.
Private Construction declined 0.5% after falling 1.5% in Jan. Private Construction has fallen in each of the past 6 months. Y-o-Y Private Construction is down 7.1%.
Private Non-Residential Construction was nearly unchanged at -0.1%. Private Non-Residential Construction is up 13.2% y-o-y.
Public Construction grew 0.4% in Feb., matching its Jan. increase. Educational Construction grew 0.2% and Highway Construction gained 0.9%. State and Local Construction increased 0.4%. Federal Construction grew 1.4% in Feb.
Lodging Construction grew 0.9% in Feb., while Office Construction fell 2.2%
Across-the-board declines in Private Construction, especially Private Residential Construction, indicate continued weakness in the US manufacturing industry, as well as continued deterioration in the housing market. Improvements in Public Construction have yet to mitigate declines in Private Sector Construction.