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March Construction Spending Grows 8.4% YOY

March 2014 construction spending was estimated at $942.5 billion, 0.2 percent above the revised February estimate, according to the U.S. Census Bureau. The March 2014 figure is 8.4 percent above the March 2013 estimate.

During the first three months of the year, construction spending was $196.6 billion, 8.3 percent above the same period in 2013.

Private construction was $679.6 billion, a 0.5 percent increase from the revised February estimate. Residential construction was $369.8 billion, up 0.8 percent from February. Nonresidential construction was $309.8 billion, up 0.2 percent from February.

Public construction was $262.9 billion, a 0.6 percent decrease from the revised February estimate. Educational construction was $58.4 billion, a 2.3 percent decrease from February. Highway construction was $84 billion, up 0.5 percent from February.

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