May
04
Economy Watch: Construction Spending Edges Up in March
ByThe Census Bureau revealed that overall construction spending increased slightly last month, with some commercial sectors faring better than others.
Photo credit: Elvert Barnes via Wikimedia Commons
Total U.S. construction spending during March came in at an annualized rate of $1,137.5 billion, 0.3 percent more than in February, the Census Bureau reported on Tuesday. The March figure is also 8 percent above that in March 2015.
Spending on private construction in March was 1.1 percent higher than the February total, but public construction spending was another matter. In March, the annualized rate of public construction spending was 1.9 percent below the rate in February. Public construction spending is now 9 percent below the peak in March 2009, during the early days of the stimulus…
