Construction Spending Declined 0.5% in March

Washington, DC, May 1, 2025-Construction spending during March 2025 was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5% below the revised February estimate of $2,206.9 billion, according to the U.S. Census Bureau.

The March figure is 2.8% above the March 2024 estimate of $2,135.8 billion. During the first three months of this year, construction spending amounted to $485.7 billion, 2.9% above the $472.2 billion for the same period in 2024.

Spending on private construction was at a seasonally adjusted annual rate of $1,688.0 billion, 0.6% below the revised February estimate of $1,697.7 billion. Residential construction was at a seasonally adjusted annual rate of $937.7 billion in March, 0.4% below the revised February estimate of $941.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $750.3 billion in March, 0.8% below the revised February estimate of $756.0 billion.

In March, the estimated seasonally adjusted annual rate of public construction spending was $508.1 billion, 0.2% below the revised February estimate of $509.2 billion. Educational construction was at a seasonally adjusted annual rate of $110.0 billion, 0.6% below the revised February estimate of $110.6 billion. Highway construction was at a seasonally adjusted annual rate of $145.8 billion, 0.5% below the revised February estimate of $146.4 billion.