Residential Construction Spending Falling Behind 2018

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Posted To: MND NewsWire

Publicly and privately funded construction put in place in March had an estimated value of $1.282 trillion on a seasonally adjusted annual basis. This is up 0.9 percent from the February total of $1.293 trillion but is down 0.8 percent from March 2018. On a non-adjusted basis there was $98.355 billion spent during the month compared to $90.445 billion in February. On a year-to-date (YTD) basis spending totals $277.667 billion, down 0.2 percent compared to the first three months of 2018. Privately funded construction was at a seasonally adjusted annual rate of $961.5 billion, 0.7 percent less than the rate ($968.584 billion) in February. The February number was down 3.6 percent from spending in March of last year. YTD spending is also down from last year, a deficit of 2.6 percent. Spending in…(read more)

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