US Construction Spending Hits $2.2 Trillion in February

In a recent report by the US Census Bureau, it was revealed that construction spending in the United States reached a staggering $2.2 trillion in March, marking a 0.7% increase from the revised figures of the previous month. Annually, this represents a 2.9% growth, showcasing the robust health of the construction sector.

Private Construction Leads the Charge

Private construction spending was a significant contributor to this growth, totaling $1.7 trillion—a 0.9% rise from January's revised numbers. Within this sector, residential construction saw a 1.3% increase to $928 billion, while nonresidential construction experienced a modest 0.4% rise to $757 billion.

Public Construction Sees a Slight Dip

On the other hand, public construction spending slightly decreased by 0.2% to $391 billion compared to the previous month. Despite this, the overall construction expenditure for the period reached $509 billion, up by 0.2% from the same time in 2024.