Construction Spending Decreased 0.5% in March
From the Census Bureau reported that overall construction spending decreased: Construction spending during March 2025 was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5 percent below the revised February estimate of $2,206.9 billion. The March figure is 2.8 percent above the March 2024 estimate of $2,135.8 billion. emphasis addedBoth private and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $1,688.0 billion, 0.6 percent below the revised February estimate of $1,697.7 billion. ... In March, the estimated seasonally adjusted annual rate of public construction spending was $508.1 billion, 0.2 percent below the revised February estimate of $509.2 billion. Click on graph for larger image. This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted. Private residential (red) spending is 4.4% below the peak in 2022. Private non-residential (blue) spending is 0.8% below the peak in February 2025. Public construction spending (orange) is slightly 0.2% the peak the previous month. The second graph shows the year-over-year change in construction spending. On a year-over-year basis, private residential construction spending is up 2.8%. Private non-residential spending is up 1.6% year-over-year. Public spending is up 4.7% year-over-year. This was below consensus expectations; however, spending for the previous two months was revised up.
From the Census Bureau reported that overall construction spending decreased:
Click on graph for larger image.
This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Private residential (red) spending is 4.4% below the peak in 2022.
Private non-residential (blue) spending is 0.8% below the peak in February 2025.
Public construction spending (orange) is slightly 0.2% the peak the previous month.
The second graph shows the year-over-year change in construction spending.
On a year-over-year basis, private residential construction spending is up 2.8%. Private non-residential spending is up 1.6% year-over-year. Public spending is up 4.7% year-over-year.
Construction spending during March 2025 was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5 percent below the revised February estimate of $2,206.9 billion. The March figure is 2.8 percent above the March 2024 estimate of $2,135.8 billion.Both private and public spending increased:
emphasis added
Spending on private construction was at a seasonally adjusted annual rate of $1,688.0 billion, 0.6 percent below the revised February estimate of $1,697.7 billion. ...
In March, the estimated seasonally adjusted annual rate of public construction spending was $508.1 billion, 0.2 percent below the revised February estimate of $509.2 billion.
Click on graph for larger image.This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Private residential (red) spending is 4.4% below the peak in 2022.
Private non-residential (blue) spending is 0.8% below the peak in February 2025.
Public construction spending (orange) is slightly 0.2% the peak the previous month.
The second graph shows the year-over-year change in construction spending.On a year-over-year basis, private residential construction spending is up 2.8%. Private non-residential spending is up 1.6% year-over-year. Public spending is up 4.7% year-over-year.
This was below consensus expectations; however, spending for the previous two months was revised up.
