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Posted May 1, 2017

U.S. construction ticks upward in March

Residential and highway work are month's leaders.



The U.S. Census Bureau announced the following value put in place construction statistics for March 2017: 

Total Construction

Construction spending during March 2017 was estimated at a seasonally adjusted annual rate of $1,218.3 billion, 0.2 percent (±2.1 percent)* below the revised February estimate of $1,220.7 billion. The March figure is 3.6 percent (±1.5 percent) above the March 2016 estimate of $1,176.4 billion.

During the first 3 months of this year, construction spending amounted to $259.5 billion, 4.9 percent (±1.6 percent) above the $247.5 billion for the same period in 2016.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $940.2 billion, nearly the same as (± 3.3 percent)* the revised February estimate of $940.1 billion.

Residential construction was at a seasonally adjusted annual rate of $503.4 billion in March, 1.2 percent (±1.3 percent)* above the revised February estimate of $497.4 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $436.8 billion in March, 1.3 percent (± 3.3 percent)* below the revised February estimate of $442.6 billion.

Public Construction

In March, the estimated seasonally adjusted annual rate of public construction spending was $278.1 billion, 0.9 percent (±2.0 percent)* below the revised February estimate of $280.7 billion.

Educational construction was at a seasonally adjusted annual rate of $70.2 billion, 2.0 percent (±2.6 percent)* below the revised February estimate of $71.6 billion.

Highway construction was at a seasonally adjusted annual rate of $91.5 billion, 0.5 percent (±4.9 percent)* above the revised February estimate of $91.1 billion.

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