Construction spending during March 2008 was estimated at a seasonally adjusted annual rate of $1,123.5 billion, 1.1% below the revised February estimate. The March figure is 3.4% below March 2007.
During the first three months of the year, construction spending was $241.6 billion, 2.4% below the the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 1.7% (±1.4%) below the revised February estimate of $842.0 billion. Residential construction was at a seasonally adjusted annual rate of $445.0 billion in March, 4.6% below the revised February estimate of $466.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $382.3 billion in March, 1.9% above the revised February estimate of $375.3 billion.
Public Construction
In March, the estimated seasonally adjusted annual rate of public construction spending was $296.2 billion, 0.6% above the revised February estimate of $294.5 billion. Educational construction was at a seasonally adjusted annual rate of $84.1 billion, 0.3% above the revised February estimate of $83.9 billion. Highway construction was at a seasonally adjusted annual rate of $79.7 billion, 0.8% above the revised February estimate.
1Q Construction Spending 2.4% Below Last Year
Construction spending during March 2008 was estimated at a seasonally adjusted annual rate of $1,123.5 billion, 1.1% below the revised February estimate. The March figure is 3.4% below March 2007.
During the first three months of the year, construction spending was $241.6 billion, 2.4% below the the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 1.7% (±1.4%) below the revised February estimate of $842.0 billion. Residential construction was at a seasonally adjusted annual rate of $445.0 billion in March, 4.6% below the revised February estimate of $466.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $382.3 billion in ...
During the first three months of the year, construction spending was $241.6 billion, 2.4% below the the same period in 2007.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 1.7% (±1.4%) below the revised February estimate of $842.0 billion. Residential construction was at a seasonally adjusted annual rate of $445.0 billion in March, 4.6% below the revised February estimate of $466.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $382.3 billion in ...
Share this article
About the Author
Recommended Reading
Leave a Reply
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.