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In The News:

Construction Spending Up 0.3% in March

Construction spending in March 2009 was up 0.3% to $969.7 billion from the revised February estimate. The March figure is 11.1% below March 2008, according to the U.S. Census Bureau of the Department of Commerce.
 
During the first 3 months of this year, construction spending was 10.9 percent below the same period in 2008.
 
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $661.0 billion, 0.1% below the revised February estimate. Residential construction was 4.2% below the revised February estimate of $269.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $402.6 billion in March, 2.7 percent (±1.4%) above the revised February estimate of $392.0 billion.
 
Public Construction
In March, the estimated seasonally adjusted annual rate of public construction spending was $308.7 billion, 1.1% above the revised February estimate of $305.4 billion. Educational construction was at a seasonally adjusted annual rate of $89.2 billion, 1.6% above the revised February estimate of $87.8 billion. Highway construction was at a seasonally adjusted annual rate of $76.2 billion, 0.8% below the revised February estimate of $76.8 billion.

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