Updated: 01-May-25 10:29 ET
| March Construction Spending |
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| Updated: 01-May-25 10:29 ET |
Highlights
- Total construction spending decreased 0.5% month-over-month in March (Briefing.com consensus 0.3%) after increasing a downwardly revised 0.6% increase (from 0.7%) in February.
- Total private construction was down 0.6% month-over-month, while total public construction was down 0.2% month-over-month.
- On a year-over-year basis, total construction spending was up 2.8%.
Key Factors
- Total residential spending decreased 0.4% month-over-month, while nonresidential spending dropped 0.5% month-over-month.
- In private construction, residential spending fell 0.4%, with new single family construction up 0.1% and multifamily construction flat. Nonresidential spending was down 0.8%, led by a 1.0% decline in commercial spending and a 1.8% drop in office spending.
- In public construction, nonresidential spending slipped 0.2% month-over-month, led by a 0.5% decline in highway and street spending and a 0.6% decline in educational spending.
Big Picture
- The key takeaway from the report is that spending weakened in March for both private and public construction.
| Category | MAR | FEB | JAN | DEC | NOV |
| Nominal (Current) Dollars | |||||
| Total Construction | -0.5% | 0.6% | 0.1% | 0.3% | 0.4% |
| Private | -0.6% | 0.7% | 0.1% | 0.4% | 0.5% |
| Residential | -0.4% | 1.3% | 0.2% | 0.3% | 0.3% |
| Nonresidential | -0.8% | 0.1% | -0.1% | 0.5% | 0.7% |
| Public | -0.2% | 0.0% | 0.4% | -0.1% | 0.1% |
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