The US Census Bureau announced today that US construction spending during March 2018 was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent (±0.8 percent) below the revised February estimate of $1,306.4 billion. The March figure is 3.6 percent (±1.3 percent) above the March 2017 estimate of $1,239.6 billion.
During the first three months of this year, construction spending amounted to $279.0 billion, 5.5 percent (±1.2 percent) above the $264.5 billion for the same period in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $987.5 billion, 2.1 percent (±0.8 percent) below the revised February estimate of $1,009.1 billion.
Residential construction was at a seasonally adjusted annual rate of $536.8 billion in March, 3.5 percent (±1.3 percent) below the revised February estimate of $556.5 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $450.7 billion in March, 0.4 percent (±0.8 percent) below the revised February estimate of $452.5 billion.
In March, the estimated seasonally adjusted annual rate of public construction spending was $297.2 billion, nearly the same as (±1.6 percent) the revised February estimate of $297.3 billion.
Educational construction was at a seasonally adjusted annual rate of $73.1 billion, 0.1 percent (±2.5 percent) below the revised February estimate of $73.2 billion.
Highway construction was at a seasonally adjusted annual rate of $91.0 billion, 1.2 percent (±5.4 percent) above the revised February estimate of $89.9 billion.