Construction spending rises slightly in March

US construction spending rose slightly from February to March, Kallanish learns from data released by the US Census Bureau.

In March, US construction spending was estimated at a seasonally adjusted annual rate of $1.513 trillion. This is up 0.2% above February's revised estimate of $1.51 trillion and 5.3% above March 2020's estimate of $1.437 trillion.

Spending on private construction in March was estimated at a seasonally adjusted annual rate of $1.169 trillion, up 0.7% above February's revised estimate rate of $1.161 trillion.

Residential construction was estimated at a seasonally adjusted annual rate of $725 billion in March, up 1.7% above February's revised estimate of $713 billion. Non-residential construction was estimated at a seasonally adjusted annual rate of $444 billion in March, down 0.9% below February's revised estimate of $448 billion.

Spending on public construction in March was estimated at a seasonally adjusted annual rate of $344 billion, down 1.5% below February's revised estimate of $349 billion. Educational construction was at a seasonally adjusted annual rate of $85.3 billion in March, down 2% below February's revised estimate of $87.1 billion. Highway construction for the month was estimated at a seasonally adjusted annual rate of $98.8 billion, down 2.2% below February's revised estimate of $101.1 billion.

Zach Johnson USA