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Friday, May 1, 2015

Construction Spending Fell in March.

Construction spending declined 0.6% in March to a seasonally adjusted annual rate (SAAR) of $966.6 billion. February spending was revised up slightly from $967.2 billion to $972.9 billion. Although growth in construction spending declined from February, construction spending for the first quarter of 2015 was 3.2% greater than the first quarter of 2014.

Total private construction fell to $702.4 billion (SAAR), a 0.3% decrease from the revised February estimate. On the year, private construction increased 2.9%.

Private residential construction declined to $349.0 billion (SAAR), down 1.6% from February, as both construction of single and multi-family homes declined for the month. For the year, private residential construction declined by 2.6%

Non-residential construction increased by 1.0%, with communication infrastructure and lodging construction posting the most notable increases.

Public constriction continued to decline, falling 0.9% from February, but increased 16.5% from one year ago.

Read the Census Bureau release

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