Construction spending up in March

Construction spending during March 2009 was estimated by the U.S. Commerce Department at a seasonally adjusted annual rate of $969.7 billion, 0.3% above the revised February estimate of $967.1 billion. The March figure is 11.1% below the March 2008 estimate of $1,090.5 billion.

During the first three months of this year, construction spending amounted to $209.5 billion, 10.9% below the $235.2 billion for the same period in 2008.

Public construction spending crept up in March to an estimated seasonally adjusted annual rate of $308.7 billion, 1.1% above the revised February estimate of $305.4 billion.

Highway construction was at a seasonally adjusted annual rate of $76.2 billion, 0.8% below the revised February estimate of $76.8 billion.