March 2015 construction spending was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6 percent below the revised February estimate of $972.9 billion, according to the U.S. Census Bureau of the Department of Commerce. The March figure is 2 percent above the March 2014 estimate of $947.3 billion.
During the first three months of the year, construction spending amounted to $206.7 billion, 3.2 percent above the $200.4 billion for the same period in 2014.
Spending on private construction was at a seasonally adjusted annual rate of $702.4 billion, 0.3 percent below the revised February estimate of $704.7 billion. Residential construction was at a seasonally adjusted annual rate of $349 billion in March, 1.6 percent below the revised February estimate of $354.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $353.4 billion in March, 1 percent above the revised February estimate of $350.1 billion.
In March, the estimated seasonally adjusted annual rate of public construction spending was $264.2 billion, 1.5 percent below the revised February estimate of $268.2 billion. Educational construction was at a seasonally adjusted annual rate of $58.4 billion, 2.2 percent below the revised February estimate of $59.7 billion. Highway construction was at a seasonally adjusted annual rate of $78 billion, 2.4 percent below the revised February estimate of $79.9 billion.
