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U.S. Construction Spending Fell 0.9% in March

The March estimate for total construction spending is 0.8% lower than a year ago when the March 2018 estimate was $1,293.1 billion. Total construction put in place (CPIP) for the first three months of 2019 totaled $277.7 billion. This is a 0.2% decrease from the $278.3 billion spent during January through March of 2018.

In March, total nonresidential construction spending was down 0.3% to a seasonally adjusted annual rate of $775.2 billion. February’s estimate was revised up from $773.8 billion to $777.2 billion. January’s estimate was revised up again from $764.7 billion to $766.6 billion.

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