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Posted May 1, 2018

March construction spending rises compared to year ago

Construction spending during March 2018 was estimated at a seasonally adjusted annual rate of $1.285 trillion, 3.6 percent above March 2017.


The March total was 1.7 percent below the revised February estimate of $1.30 trillion

During the first three months of this year, construction spending amounted to $279.0 billion, 5.5 percent above the $264.5 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $987.5 billion, 2.1 percent below the revised February estimate of $1.00 trillion. Residential construction was 3.5 percent below February, while nonresidential construction was down by 0.4 percent.

In March, public construction spending was $297.2 billion, nearly the same as the revised February estimate of $297.3 billion. Educational construction was 0.1 percent below February, while highway construction increased 1.2 percent.

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