Value of Construction Put in Place at a Glance - March 2015

March 2015 CONSTRUCTION AT $966.6 BILLION ANNUAL RATE

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6 percent (±1.3%)* below the revised February estimate of $972.9 billion. The March figure is 2.0 percent (±1.6%) above the March 2014 estimate of $947.3 billion.

During the first 3 months of this year, construction spending amounted to $206.7 billion, 3.2 percent (±1.5%) above the $200.4 billion for the same period in 2014.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $702.4 billion, 0.3 percent (±1.0%)* below the revised February estimate of $704.7 billion. Residential construction was at a seasonally adjusted annual rate of $349.0 billion in March, 1.6 percent (±1.3%) below the revised February estimate of $354.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $353.4 billion in March, 1.0 percent (±1.0%)* above the revised February estimate of $350.1 billion.

PUBLIC CONSTRUCTION

In March, the estimated seasonally adjusted annual rate of public construction spending was $264.2 billion, 1.5 percent (±2.3%)* 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 (±3.9%)* below the revised February estimate of $59.7 billion. Highway construction was at a seasonally adjusted annual rate of $78.0 billion, 2.4 percent (±6.3%)* below the revised February estimate of $79.9 billion.

	Seasonally Adjusted Annual Rate				Not Seasonally Adjusted
	(millions of dollars)				(millions of dollars)
Total	966,561	XLS (11k)	PDF (31k)		72,671	XLS (11k)	PDF (31k)
Private	702,391	XLS (15k)	PDF (36k)		54,605	XLS (15k)	PDF (36k)
Residential	348,952	XLS (8k)	PDF (16k)		26,822	XLS (8k)	PDF (16k)
Nonresidential	353,439	XLS (8k)	PDF (18k)		27,782	XLS (8k)	PDF (18k)
Public	264,170	XLS (11k)	PDF (24k)		18,067	XLS (11k)	PDF (24k)
State and Local	241,886	XLS (11k)	PDF (31k)		16,236	XLS (11k)	PDF (31k)
Federal	22,284	XLS (8k)	PDF (18k)		1,831	XLS (8k)	PDF (18k)

Source: U.S. Census Bureau