Constructions spending rose 0.1% in March, its first gain in three months. Although construction spending fell in January and February (0.7% and 1.4% respectively) Total spending is 6.0% above its level last year.
Construction spending in March was driven entirely by increased private spending, which rose 0.7%. Both residential construction and non-residential construction expanded by 0.7%.
Public spending fell in March, contracting 1.1% over the month. This decline was led by a sharp decline in spending on highway and street construction, which has now fallen 0.5% from last year.
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