Electricalmarketing 263 20150508emvalcon1600crop
Electricalmarketing 263 20150508emvalcon1600crop
Electricalmarketing 263 20150508emvalcon1600crop
Electricalmarketing 263 20150508emvalcon1600crop
Electricalmarketing 263 20150508emvalcon1600crop

U.S. Commerce Department Says March Construction Spending Sees Dip

May 8, 2015
Spending on private construction was at a seasonally adjusted annual rate of $702.4 billion, 0.3% below the revised February estimate of $704.7 billion. Residential construction was at a seasonally adjusted annual rate of $349 billion in March, 1.6% below the revised February estimate of $354.6 billion.

The Department of Commerce said construction spending during March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6% percent below the revised February estimate of $972.9 billion. The March figure is 2% above the March 2014 estimate of $947.3 billion. During the first three months of this year, construction spending amounted to $206.7 billion, 3.2% above the $200.4 billion for the same period in 2014.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $702.4 billion, 0.3% below the revised February estimate of $704.7 billion. Residential construction was at a seasonally adjusted annual rate of $349 billion in March, 1.6% below the revised February estimate of $354.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $353.4 billion in March, 1% above the revised February estimate of $350.1 billion.

Several of the most important private construction niches are seeing very nice year over year (YOY) gains. Office construction is up 26.3% to $42.25 billion; commercial construction is up 12.1% to $57.45 billion; and manufacturing is up 50.7% to $69.81 billion.

Public construction. In March, the estimated seasonally adjusted annual rate of public construction spending was $264.2 billion, 1.5% below the revised February estimate of $268.2 billion. Educational construction was at a seasonally adjusted annual rate of $58.4 billion, 2.2% below the revised February estimate of $59.7 billion. At $2.18 billion, public commercial construction was 35.8% YOY and public residential construction was up 16.5% YOY to $5.79 billion.

Highway construction was at a seasonally adjusted annual rate of $78 billion, 2.4% below the revised February estimate of $79.9 billion.