Total construction spending fell in March from February
levels and remained only slightly higher than one year earlier the Census
Bureau said today. Overall spending was
down 0.6 percent on a month-over-month basis to a seasonally adjusted annual
rate of $966.6 billion from $972.9 billion.
The March rate was 2.0 percent higher than the revised $947.3 billion
rate in March 2014.
On an unadjusted basis total spending in March was estimated
at $72.7 billion compared to $66.51 billion in February. Year-to-date expenses through the end of March
were $206.71 billion an increase of 32 percent from the 200.37 billion spent during
the same period in 2014.