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Posted May 2, 2016

U.S. construction spending ticks up in March

For first three months of 2016, spending trends 9.1 percent above the same period last year. 


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2016 was estimated at a seasonally adjusted annual rate of $1,137.5 billion, 0.3 percent (±1.0%)* above the revised February estimate of $1,133.6 billion. The March figure is 8.0 percent (±1.6%) above the March 2015 estimate of $1,052.9 billion.

During the first 3 months of this year, U.S. construction spending amounted to $240.4 billion, 9.1 percent (±1.5%) above the $220.3 billion for the same period in 2015.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $842.3 billion, 1.1 percent (±0.8%) above the revised February estimate of $832.8 billion.

Residential construction was at a seasonally adjusted annual rate of $435.5 billion in March, 1.6 percent (±1.3%) above the revised February estimate of $428.8 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $406.8 billion in March, 0.7 percent (±0.8%)* above the revised February estimate of $404.0 billion.

PUBLIC CONSTRUCTION

In March, the estimated seasonally adjusted annual rate of public construction spending was $295.2 billion, 1.9 percent (±2.0%)* below the revised February estimate of $300.8 billion.

Educational construction was at a seasonally adjusted annual rate of $69.6 billion, 0.4 percent (±2.8%)* above the revised February estimate of $69.4 billion.

Highway construction was at a seasonally adjusted annual rate of $97.3 billion, 0.4 percent (±6.6%)* above the revised February estimate of $96.9 billion.

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