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March Construction Spending Rises


The U.S. Census Bureau of the Department of Commerce reported that construction spending during March 2012 was estimated at a seasonally adjusted annual rate of $808.1 billion, 0.1 percent (±1.4 percent) above the revised February estimate of $807.3 billion.

The March figure is 6.0 percent (±1.9 percent) above the March 2011 estimate of $762.6 billion. During the first three months of this year, construction spending amounted to $171.2 billion, 6.7 percent (±1.6 percent) above the $160.4 billion for the same period in 2011.

Spending on private construction was at a seasonally adjusted annual rate of $531.9 billion, 0.7 percent (±1.3 percent) above the revised February estimate of $528.1 billion.

  • Residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, 0.7 percent (±1.3 percent) above the revised February estimate of $242.5 billion.
  • Nonresidential construction was at a seasonally adjusted annual rate of $287.8 billion in March, 0.7 percent (±1.3 percent) above the revised February estimate of $285.7 billion.

In March, the estimated seasonally adjusted annual rate of public construction spending was $276.2 billion, 1.1 percent (±2.2 percent) below the revised February estimate of $279.1 billion.

  • Educational construction was at a seasonally adjusted annual rate of $69.1 billion, 1.2 percent (±3.5 percent) below the revised February estimate of $70.0 billion.
  • Highway construction was at a seasonally adjusted annual rate of $77.0 billion, 0.8 percent (±7.7 percent) below the revised February estimate of $77.6 billion.