Construction Spending Dips but Multi-Family Stays Strong

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Posted To: MND NewsWire

Overall construction spending rose 0.3 percent in March to a seasonally adjusted annual rate of $1.14 trillion compared to $1.13 trillion in February. The Census Bureau said this is 8.0 percent higher than spending in March 2015. On a year-to-date basis through the end of March there has been $240.4 billion in construction put in place in the U.S., 9.1 percent more than at the same point in 2015. Private construction expenditures in March were at a seasonally adjusted annual rate of $842.3 billion, up 1.1 percent from the previous month and an 8.5 percent increase compared to a year earlier. More than half of that annual rate is coming from the residential construction industry were spending increased 1.6 percent from February to an annual pace of $435.5 billion and was up 7.8 percent from…(read more)

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