Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending fell in March to $598.4 billion, a 0.6 percent decrease from the downwardly revised February estimate of $602.0 billion. March’s results are 9.8 percent higher year-over-year. Residential construction spending increased 0.4 percent over the month, to $294.9 billion. New multi-family construction spending rose 0.3 percent in March and is still up 52.7 percent year-over-year. New single-family construction posted a monthly gain of 1.6 percent and is up 37.6 percent since last March. Private nonresidential construction spending was at $303.5 billion, 1.5 percent below the revised February estimate of $308.2 billion. Manufacturing, commercial, healthcare, educational, and power all registered declines over the month. The communication sector posted the largest monthly increase of 3.7 percent but is still down 4.1 percent year-over-year.