March Construction Spending Up Slightly Over February But Increased 6.7% YTY

The U.S. Census Bureau of the Department of Commerce reported that construction spending during March 2012 was estimated at a seasonally adjusted annual rate of $808.1 billion, 0.1 percent above the revised February estimate of $807.3 billion. The March figure is 6% above the March 2011 estimate of $762.6 billion. During the first three months of this year, construction spending amounted to $171.2 billion, 6.7 percent above the $160.4 billion for the same period in 2011.

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