Construction Spending Highlights

In a recent update from the US Census Bureau, construction spending in the United States has shown a promising increase, reaching $2.2 trillion in March. This marks a 0.7% rise from the revised figures of the previous month, with an annual growth rate of 2.9%.

Private and Public Sector Breakdown

Private construction spending hit $1.7 trillion, showcasing a 0.9% increase from January's revised numbers. Within this sector, residential construction saw a significant jump of 1.3% to $928 billion, while nonresidential construction experienced a modest 0.4% rise to $757 billion. On the other hand, public construction spending slightly decreased by 0.2% to $391 billion compared to last month.

Yearly Comparison

Comparing to the same period in 2024, construction expenditure has grown by 0.2%, totaling $509 billion, indicating a steady upward trend in the construction sector.