Construction spending inched higher in March
Construction spending during March 2022 was estimated at a seasonally adjusted annual rate of $1,730.5 billion, 0.1 percent above the revised February estimate of $1,728.6 billion.
The March figure is 11.7 percent above the March 2021 estimate of $1,548.6 billion. During the first three months of this year, construction spending amounted to $376.6 billion, 12.0 percent above the $336.3 billion for the same period in 2021.
Spending on private construction was at a seasonally adjusted annual rate of $1,379.7 billion, 0.2 percent above the revised February estimate of $1,376.9 billion. Residential construction was 1.0 percent above February. Nonresidential construction was 1.2 percent below February.
In March, the estimated seasonally adjusted annual rate of public construction spending was $350.8 billion, 0.2 percent below the revised February estimate of $351.7 billion. Educational construction was 0.8 percent below February. Highway construction 0.4 percent below February.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
