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Photo 199231482 / Hye Jin Kang / Dreamstime
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Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime Copy
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Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime
Prices Cost Rising Photo 199231482 Hye Jin Kang Dreamstime
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Electricalmarketing Com Sites Electricalmarketing com Files Uploads 2013 05 20130510 Em Newconst
Electricalmarketing Com Sites Electricalmarketing com Files Uploads 2013 05 20130510 Em Newconst
Electricalmarketing Com Sites Electricalmarketing com Files Uploads 2013 05 20130510 Em Newconst
Electricalmarketing Com Sites Electricalmarketing com Files Uploads 2013 05 20130510 Em Newconst
Electricalmarketing Com Sites Electricalmarketing com Files Uploads 2013 05 20130510 Em Newconst

Value of New Construction Dips 1.7% in March Due to 4.1% Drop in Public Construction

May 12, 2013

The Department of Commerce said construction spending during March 2013 was estimated at a seasonally adjusted annual rate of $856.7 billion, 1.7% below the revised February estimate of $871.2 billion. The March figure is 4.8% above the March 2012 estimate of $817.8 billion. During the first three months of this year, construction spending amounted to $181.7 billion, 4.7% above the $173.6 billion for the same period in 2012.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $598.4 billion, 0.6% below the revised February estimate of $602 billion. Residential construction was at a seasonally adjusted annual rate of $294.9 billion in March, 0.4% above the revised February estimate of $293.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $303.5 billion in March, 1.5% below the revised February estimate of $308.2 billion. Public construction. In March, the estimated seasonally adjusted annual rate of public construction spending was $258.3 billion, 4.1% below the revised February estimate of $269.2 billion, and 5.4% below the March 2012 spending data. Public office construction saw the biggest drop, declining 10.8% ($900 million) from $8.9 billion in February to $8 billion in March. Year-to-year, that’s a 29% decrease from March 2012. Educational construction also saw as sizeable drop. It was at a seasonally adjusted annual rate of $62.8 billion, 2.9% below the revised February estimate of $64.7 billion. Highway construction was at a seasonally adjusted annual rate of $73.8 billion, 5.2% below the revised February estimate of $77.8 billion.