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Construction Spending Annual Rates for March 2014

By May 1, 2014 November 19th, 2019 Construction Law

According to the U.S. Census Bureau of the Department of Commerce, total construction spending for March 2014 was estimated at a seasonally adjusted annual rate of $942.5 billion.  This rate is an increase of 0.2 percent from the revised February estimate of $940.8 billion.  Compared to a year ago, the March rate is up 8.4 percent from that of the March 2013 rate, which was estimated at $869.2 billion.  So far this year, construction spending has totaled $196.6 billion, an increase of 8.3 percent compared to the $181.6 billion for the first three months of 2013.

Private construction spending was estimated at a seasonally adjusted annual rate of $679.6 billion, which is an increase of 0.5 percent from February’s revised estimate of $676.3 billion.  Residential construction spending for March was at a seasonally adjusted annual rate of $369.8 billion, up 0.8 percent from the previous month’s revised estimate of $367.0 billion.  Nonresidential construction spending for March was estimated at $309.8 billion, up 0.2 percent from February’s revised estimate of $309.3 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $262.9 billion, down 0.6 percent from February’s revised estimate of $264.5 billion.  Educational construction spending for March was at an adjusted rate of $58.4 billion, down 2.3 percent from the revised February estimate of $59.8 billion.  Highway construction spending was estimated at an adjusted rate of $84.0 billion for March, increasing by 0.5 percent over February’s revised estimate of $83.6 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.

 

Eli Robbins

Author Eli Robbins

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