Year-Over-Year Increase in National Construction Spending Reflected in March

The US Census Bureau of the Department of Commerce issued a press release regarding national construction spending for March 2014. According to the Bureau’s statement, construction spending in March reached an estimated $94.5 billion seasonally adjusted annual rate. Spending in March was 0.2% greater than the Bureau’s revised February estimate and 8.2% above March 2013.

On a quarterly basis, the first 3 months of 2014 resulted in $196.6 billion in construction spending which is 8.3% “above the $181.6 billion for the same period in 2013.”

Private residential construction in March, estimated at a seasonally adjusted annual rate of $369.8 billion, was 0.8% greater than in February when the seasonally adjusted annual rate was estimated at $367.0 billion. Compared to March 2013, private residential construction in March 2014 was up 16.0%.

To view the Bureau’s full press release and supporting data, visit http://1.usa.gov/18plUiB.

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