The value of construction put-in-place increased 1.0% (1.1% y/y) during February following a 2.5% January increase, revised from 1.3%. A 0.1% easing had been expected in the Action Economics Forecast Survey.

The value of public construction jumped 3.6% (11.5% y/y), after an outsized 5.7% rise in January. It was powered by a 9.5% surge (22.8% y/y) in highway & street construction, which accounts for roughly one-third of public sector spending. Public safety construction rose 3.1% (4.6% y/y), but health care building declined 7.0% (-5.3% y/y). Educational facility construction was little-changed (5.5% y/y). Water supply construction gained 5.2% (11.4% y/y).

The value of private construction activity rose 0.2% (-1.9% y/y). Residential building rose 0.7% (-3.4% y/y) but single-family construction dropped 1.1% (-7.1% y/y). Multi-family construction eased 0.4% (+7.5% y/y) after five months of strong increase. The value of improvements strengthened 3.6% (-1.5% y/y). Nonresidential building activity weakened 0.5% (+0.1% y/y) after two months of improvement. Office construction slipped 0.4% (4.8% y/y) and commercial construction weakened 0.8% (-6.6% y/y). Factory sector building rose 0.9% (3.4% y/y).

The construction spending figures, some of which date back to 1946, are in Haver's USECON database. The expectations reading can be found in the AS1REPNA database.