May 4, 2009
Construction Spending Up 0.3%
By Matthew L. Brown
Construction spending rose by 0.3 percent in March to an annual rate of $969.7 billion, compared to February's total of $967.1 billion, according to the U.S. Census Bureau.
The March increase is still more than 11 percent less than was spent on construction in March 2008.
The month-to-month increase was primarily due to spending on non-residential construction and public works, the bureau said.
Spending on residential projects decreased by 4.2 percent compared to the previous year. Non-residential construction spending increased by 2.7 percent and spending on public projects increased by 1.1 percent.
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