The U.S. Census Bureau is reporting that total construction spending in March was estimated at a seasonally adjusted annual rate of $1,284.7 billion, which is 1.7% lower than February’s revised number. However, March’s figure is 3.6% higher than March 2017. During the first three months of this year, construction spending amounted to $279.0 billion, 5.5% higher than the same period in 2017. In addition, private residential construction was at a seasonally adjusted annual rate of $536.8 billion and Nonresidential construction was at a seasonally adjusted annual rate of $450.7 billion, in March. Total public construction’s seasonally adjusted annual rate was $297.2 billion.
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