National healthcare construction spending increased .3% in February, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, healthcare spending totaled roughly $70 million.
Nonresidential construction spending overall was up on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending increased .4%, while public nonresidential construction spending was up .2% in February.
“The mix of high interest rates, tight lending standards and unprecedented uncertainty regarding trade policy will continue to weigh on private sector construction in the coming months,” said ABC Chief Economist Anirban Basu. “Despite these ongoing headwinds and the expectation that materials prices will rise as tariffs are implemented, contractors remain optimistic about their prospects over the next six months, according to ABC’s Construction Confidence Index.”
