Total construction spending during February 2020, announced by the U.S. Census Bureau, was estimated at a seasonally adjusted annual rate of $1,366.7 billion, 1.3 percent below the revised January estimate of $1,384.5 billion. The February figure is 6.0 percent above the February 2019 estimate of $1,289.0 billion. During the first two months of this year, construction spending amounted to $193.5 billion, 8.2 percent above the $178.8 billion for the same period in 2019.  These figures will likely form the base-line of where the markets stood BEFORE the national/worldwide COVID-19 (Wuhan Virus) took down economic activities in the fight to slow/stop the spread of the illness.

PRIVATE CONSTRUCTION:
Private construction spending was at a seasonally adjusted annual rate of $1,025.8 billion, 1.2 percent below the revised January estimate of $1,038.5 billion. Residential construction was at a seasonally adjusted annual rate of $564.3 billion in February, 0.6 percent below the revised January estimate of $567.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $461.5 billion in February, 2.0 percent below the revised January estimate of $471.0 billion.

Read more....