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