Construction spending in March was estimated at a seasonally adjusted annual rate of $856.7 billion, 1.7 percent below the revised February estimate of $871.2 billion, according to the U.S. Census Bureau. The March figure is 4.8 percent above the March 2012 estimate of $817.8 billion.
During the first 3 months of this year, construction spending was $181.7 billion, 4.7 percent above the same period in 2012.
Spending on private construction was $598.4 billion, 0.6 percent below the revised February estimate. Residential construction was $294.9 billion in March, 0.4 percent above the revised February estimate. Nonresidential construction was $303.5 billion in March, 1.5 percent below the revised February estimate.
Public construction spending in March was $258.3 billion, 4.1 percent below the revised February estimate. Educational construction was $62.8 billion, 2.9 percent below the revised February estimate of $64.7 billion. Highway construction was $73.8 billion, 5.2 percent below the revised February estimate.