Construction spending during March 2013 was estimated at a seasonally adjusted annual rate of $856.7 billion, according to the U.S. Census Bureau of the Department of Commerce, a slight spending decrease (1.7%) below the $871.2 billion estimate released in February.
Overall, construction spending during the first three months of 2013 is up from last year at $181.7 billion, as compared to $173.6 billion for the same period in 2012.
The biggest losses in construction spending were in the public sector; the March 2013 seasonally adjusted rate for spending by local, state and the federal government was $258.3 billion, 4.1% below the revised February estimate.
Spending on private construction also decreased by 0.6% since February.
For more information on construction spending data and statistics please visit the U.S. Census Bureau. April 2013 data will be available June 3.
