Construction spending rose 0.3% in March to $1,137.5 billion (SAAR). February’s spending estimate was revised down to $1,133.6 billion. During the first three months of the year, construction spending amounted to $240.4 billion, 9.1% higher than in the first three months of 2015.
Total private construction rose to a rate of $842.3 billion, 1.1% above February’s estimate of $832.8 billion.
Private residential construction fell 1.9% to a seasonally adjusted annual rate of $295.2 billion.
Private nonresidential construction rose 0.7% to a rate of $406.8 billion, rising broadly across most nonresidential categories.
Public construction fell 1.9% to a rate of $295.2 billion, in large part due to a 14% decline in transportation construction.
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