US Construction Spending Climbs in February

In a recent report by the US Census Bureau, it was revealed that construction spending in the United States reached an impressive $2.2 trillion in March, marking a 0.7% increase from the revised figures of the previous month. Year-over-year, this represents a 2.9% growth, showcasing the sector's robust performance.

Private and Public Construction Spending

Private construction spending soared to $1.7 trillion, up by 0.9% from January's revised numbers. Within this sector, residential construction witnessed a 1.3% rise to $928 billion, while nonresidential construction experienced a 0.4% increase to $757 billion. On the other hand, public construction spending slightly decreased by 0.2% to $391 billion.

Annual Growth Highlights

Comparing to the same period in 2024, construction expenditure has grown by 0.2%, reaching $509 billion, further emphasizing the sector's continuous expansion.