March construction spending dips slightly below February estimates
March construction spending was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5% (±0.8%) below the revised February estimate of $2,206.9 billion.
The March figure is 2.8% (±1.2%) above the March 2024 estimate of $2,135.8 billion. During the first three months of this year, construction spending amounted to $485.7 billion, 2.9% (±1.0%) above the $472.2 billion for the same period in 2024.
Spending on private construction was at a seasonally adjusted annual rate of $1,688.0 billion, 0.6% (±0.5%) below the revised February estimate of $1,697.7 billion.
Residential construction was at a seasonally adjusted annual rate of $937.7 billion in March, 0.4% (±1.3%) below the revised February estimate of $941.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $750.3 billion in March, 0.8% (±0.5%) below the revised February estimate of $756.0 billion.
Public Construction
In March, the estimated seasonally adjusted annual rate of public construction spending was $508.1 billion, 0.2% (±1.5%) below the revised February estimate of $509.2 billion. Educational construction was at a seasonally adjusted annual rate of $110.0 billion, 0.6% (±1.6%) below the revised February estimate of $110.6 billion.
Highway construction was at a seasonally adjusted annual rate of $145.8 billion, 0.5% (±5.6%) below the revised February estimate of $146.4 billion.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about the ISA's Veterans Empowerment Network. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
