Construction spending increased in March
Construction spending during March was estimated at a seasonally adjusted annual rate of $1,360.5 billion, 0.9 percent above the revised February estimate of $1,348.4 billion.
The March figure is 4.7 percent above the March 2019 estimate of $1,299.1 billion. During the first three months of this year, construction spending amounted to $297.0 billion, 6.7 percent above the $278.5 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,012.5 billion, 0.7 percent above the revised February estimate of $1,005.8 billion. Residential construction was 2.3 percent above February. Nonresidential construction was 1.3 percent below February.
The estimated seasonally adjusted annual rate of public construction spending was $348.0 billion, 1.6 percent above the revised February estimate of $342.6 billion. Educational construction was 0.3 percent below February. Highway construction was 4.6 percent above February.