Construction Spending Decreased in March

Construction spending decreased 0.2% in March to a seasonally adjusted annual level (SAAL) of $1,218.3 billion, according to the Census Bureau. February’s spending estimate was revised to a rate of $1,220.7 billion. March’s figure is 3.6% greater than the March 2016 estimate of $1,176.4 billion.

Total private construction was $940.2 billion SAAL, nearly the same as the revised February estimate of $940.1 billion.

Private residential construction was $503.4 billion SAAL, 1.2% above February’s rate.

Private nonresidential construction was $436.8 billion, 1.3% below February’s estimate.

Public construction decreased 0.9% to $278.1 billion SAAL, largely due to a decrease in educational projects.

Read the Census release.