According to the U.S. Census Bureau of the Department of Commerce, total construction spending for March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion. This rate is a decrease of 0.6 percent from the revised February estimate of $972.9 billion. Compared to a year ago, the March rate is up 2.0 percent from that of the March 2014 rate, which was estimated at $947.3 billion. So far this year, construction spending has totaled $206.7 billion, an increase of 3.2 percent compared to the $200.4 billion for the first three months of 2014.
Private construction spending was estimated at a seasonally adjusted annual rate of $702.4 billion, which is a decrease of 0.3 percent from February’s revised estimate of $704.7 billion. Residential construction spending for March was at a seasonally adjusted annual rate of $349.0 billion, down 1.6 percent from the previous month’s revised estimate of $354.6 billion. Nonresidential construction spending for March was estimated at $353.4 billion, up 1.0 percent from February’s revised estimate of $350.1 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $264.2 billion, down 1.5 percent from February’s revised estimate of $268.2 billion. Educational construction spending for March was at an adjusted rate of $58.4 billion, down 2.2 percent from the revised February estimate of $59.7 billion. Highway construction spending was estimated at an adjusted rate of $78.0 billion for March, decreasing by 2.4 percent from February’s revised estimate of $79.9 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
