Construction spending up slightly in March

The U.S. Census Bureau of the Department of Commerce announced, May 1, that construction spending during March 2012 was up 6 percent compared to March 2011, totalling $808.1 billion. That figure is up slightly from February 2012's $807.3 billion.

During the first three months of this year, construction spending amounted to $171.2 billion, 6.7 percent above the same period in 2011, according to a release.

Compared to February 2012, the March 2012 spending breakdown is as follows:

Private construction: up 0.7 percent

Residential construction: up 0.7 percent

Nonresidential construction: up 0.7 percent

Public construction: down 1.1 percent

Educational construction: down 1.2 percent