Construction spending hit a seasonally adjusted rate of $847.3 billion. Although construction spending was up slightly during the third month of the year, it is 12.3 percent lower than was reported in March 2009.
Private construction went down 0.9 percent in March when held up against February's total. In all, $550.8 billion was spent in this sector, while declines were seen in both residential and nonresidential dollars. The former saw spending at $251.8 billion, which was 1.1 percent below February. The latter had spending decline 0.7 percent to $299 billion. Meanwhile, spending on public projects was up 2.3 percent. |
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