The U.S. Department of Commerce is reporting that total construction spending in March was estimated at a seasonally adjusted annual rate of $1,21 trillion, which is 3% higher than March 2016. Private residential construction was at a seasonally adjusted annual rate of $503.4 billion in March, 1.2% higher than February’s number. Nonresidential construction was at a seasonally adjusted annual rate of $436.8 billion in March, 1.3% below February’s number. Public construction spending was $278.1 billion in February.
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