Construction spending during March 2024 was estimated at a seasonally adjusted annual rate of $2,083.9 billion, 0.2% below the revised February estimate of $2,087.8 billion. The March figure is 9.6% above the March 2023 estimate of $1,901.4 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,600.8 billion, 0.5% below the revised February estimate of $1,608.5 billion. Residential construction was at a seasonally adjusted annual rate of $884.3 billion in March, 0.7% below the revised February estimate of $890.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $716.5 billion in March, 0.2% below the revised February estimate of $717.6 billion.
In March, the estimated seasonally adjusted annual rate of public construction spending was $483.1 billion, 0.8% above the revised February estimate of $479.3 billion.
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