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Construction Spending Sees Small Uptick in March

www.enr.com·Alisa Zevin·24 days ago
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Total construction spending rose 0.6% in March, on a month-to-month basis, according to data recently released by the U.S. Census Bureau. Residential spending increased 1.6%, while non-residential spending fell 0.2% in the same time period. Total nonresidential spending fell to a seasonally adjusted annual rate of $1.244 trillion, according to Associated Builders and Contractors’ analysis of the Census Bureau data. ABC released the analysis May 7 , following reporting delays tied to the recent federal government shutdown. Nine of 16 nonresidential subcategories posted monthly declines, while both public and private nonresidential spending each slipped 0.2%. Year-over-year, total construction spending increased 1.6% in March, spurred by a 3.5% boost in the residential market, while non-residential spending saw a slight bump at 0.2%.…

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