Keeping you up to date on the latest data releases.
- Construction Spending
After upward revisions to both January and February, private construction increased in March to $531.9 billion. Both nonresidential and residential spending inched up by 0.7 percent over the month. Private construction has grown by 10.3 percent over the year, nonresidential construction leading the growth at 13.1 percent, and residential following at 6.9 percent. Power and utility along with manufacturing pushed the nonresidential construction increases over March. The year-long increases are attributed to commercial and healthcare structures growing at 9.5 percent and 7 percent, respectively. New single-family home construction showed growth of 3.8 percent, outweighing the decrease of 3.1 percent in new multi-family homes for the month, and supporting the $1.65 billion increase in residential construction.