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In The News:

March Construction Spending Up 6% Over March 2011

May 1, 2012
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Construction spending in March 2012 was estimated at a seasonally adjusted annual rate of $808.1 billion, 0.1 percent above February. The March figure is 6 percent above March 2011, according to the U.S. Census Bureau of the Department of Commerce.

During the first three months of this year, construction spending amounted to $171.2 billion, 6.7 percent above the same period a year ago.

Spending on private construction was at a seasonally adjusted annual rate of $531.9 billion, 0.7 percent above February. Residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, 0.7 percent above February. Nonresidential construction was at a seasonally adjusted annual rate of $287.8 billion in March, 0.7 percent above February.

In March, the estimated seasonally adjusted annual rate of public construction spending was $276.2 billion, 1.1 percent below February. Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 1.2 percent below February. Highway construction was at a seasonally adjusted annual rate of $77 billion, 0.8 percent below February.

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