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U.S. Construction Spending Drops 1.7% in March

Construction spending fell to a seasonally adjusted annual rate of $1,284.7 billion in March. This is 1.7% below February’s estimate which was revised up significantly from $1,273.1 billion to $1,306.4 billion. January’s estimate of $1,272.2 billion was also revised up again to $1,294.0 billion.

Despite the monthly drop, construction spending in March 2018 was up 3.6% from a year ago when the March 2017 seasonally adjusted annual rate was $1,240.0 billion.

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