Construction Spending Rebounds in March
Washington, DC, May 1, 2014 -- Construction spending rose slightly in March, according to the Commerce Department.
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Spending expanded for apartments, single-family homes, health care centers and office projects. Total spending rose 0.2% after falling by the same amount in February.
The March gains put construction at a seasonally adjusted annual rate of $942.5 billion, an 8.4% increase over the last year.
Apartment construction spending rose 4.3% in March, while single-family home spending edged up 0.2%.
Spending on government buildings fell 0.6%, including a 2.3% drop for schools.