See How Construction Spending Compares to Last Year

A lot of jobs have been spilled in the construction sector (NYSE:XHB). Although we made a tad of progress in March, we’re still 6.7 percent below March 2010 … and that wasn’t a month worth writing home about.

The Department of Commerce’s Census Bureau announced construction spending details as follows:

Private Construction. Spending on private construction was at a seasonally adjusted annual rate of $476.1 billion, 2.2 percent above the revised February estimate of $466.0 billion. Residential construction was at a seasonally adjusted annual rate of $229.1 billion in March, 2.6 percent above the revised February estimate of $223.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $247.0 billion in March, 1.8 percent above the revised February estimate of $242.7 billion.

Public Construction.In March, the estimated seasonally adjusted annual rate of public construction spending was $292.8 billion, 0.1 percent above the revised February estimate of $292.6 billion. Educational construction was at a seasonally adjusted annual rate of $68.5 billion, 0.5 percent (±4.2%)* above the revised February estimate of $68.1 billion. Highway construction was at a seasonally adjusted annual rate of $82.9 billion, 0.6 percent above the revised February estimate of $82.4 billion.

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