U.S. construction spending slides in March
Commercial segment climbs 1 percent for month; all others slip.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6 percent (±1.3%)* below the revised February estimate of $972.9 billion. The March figure is 2.0 percent (±1.6%) above the March 2014 estimate of $947.3 billion.
During the first 3 months of this year, construction spending amounted to $206.7 billion, 3.2 percent (±1.5%) above the $200.4 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $702.4 billion, 0.3 percent (±1.0%)* below the revised February estimate of $704.7 billion.
Residential construction was at a seasonally adjusted annual rate of $349.0 billion in March, 1.6 percent (±1.3%) below the revised February estimate of $354.6 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $353.4 billion in March, 1.0 percent (±1.0%)* above the revised February estimate of $350.1 billion.
PUBLIC CONSTRUCTION
In March, the estimated seasonally adjusted annual rate of public construction spending was $264.2 billion, 1.5 percent (±2.3%)* below the revised February estimate of $268.2 billion.
Educational construction was at a seasonally adjusted annual rate of $58.4 billion, 2.2 percent (±3.9%)* below the revised February estimate of $59.7 billion.
Highway construction was at a seasonally adjusted annual rate of $78.0 billion, 2.4 percent (±6.3%)* below the revised February estimate of $79.9 billion.
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