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Electricalmarketing 3996 Construction Gettyimages 960055690 Ah Fotobox
Electricalmarketing 3996 Construction Gettyimages 960055690 Ah Fotobox
Electricalmarketing 3996 Construction Gettyimages 960055690 Ah Fotobox
Electricalmarketing 3996 Construction Gettyimages 960055690 Ah Fotobox
Electricalmarketing 3996 Construction Gettyimages 960055690 Ah Fotobox

Value of New Construction Shows a Slight Dip in March to $1,282.2 Billion

May 3, 2019
Construction spending during March 2019 was -0.9% below the revised February estimate

Construction spending during March 2019 was estimated at a seasonally adjusted annual rate of $1,282.2 billion, -0.9% below the revised February estimate of $1,293.3 billion, according to the U.S. Census Bureau. The March figure is -0.8% below the March 2018 estimate of $1,293.1 billion. During the first three months of this year, construction spending amounted to $277.7 billion, -0.2% below the $278.3 billion for the same period in 2018.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $961.5 billion, -0.7% below the revised February estimate of $968.6 billion. Residential construction was at a seasonally adjusted annual rate of $500.9 billion in March, -1.8% below the revised February estimate of $510.1 billion. In March, both new single-family construction and multi-family construction were running at -8.4% and -8.2%, respectively, behind March 2018’s value of new construction.

Public construction. In March, the estimated seasonally adjusted annual rate of public construction spending was $320.7 billion, -1.3% below the revised February estimate of $324.7 billion. Educational construction was at a seasonally adjusted annual rate of $76.6 billion, -1.5% below the revised February estimate of $77.8 billion.

Although overall March spending on public education facilities showed a decline, some niches within educational construction showed some solid year-over-year increases, including elementary schools (+7.8%); high schools (+13.4%); college dormitories (+16.3%); and library/archive (+46.4%).