US construction spending rose slightly from February to March, Kallanish learns from data released by the US Census Bureau.

In March, US construction spending was estimated at a seasonally adjusted annual rate of $1.513 trillion. This is up 0.2% above February's revised estimate of $1.51 trillion and 5.3% above March 2020's estimate of $1.437 trillion.

Spending on private construction in March was estimated at a seasonally adjusted annual rate of $1.169 trillion, up 0.7% above February's revised estimate rate of $1.161 trillion.

Residential construction was estimated at a seasonally adjusted annual rate of $725 billion in March, up 1.7% above February's revised estimate of $713 billion. Non-residential construction was estimated at a seasonally adjusted annual rate of $444 billion in March, down 0.9% below February's revised estimate of $448 billion.

Spending on public construction in March was estimated at a seasonally adjusted annual rate of $344 billion, down 1.5% below February's revised estimate of $349 billion. Educational construction was at a seasonally adjusted annual rate of $85.3 billion in March, down 2% below February's revised estimate of $87.1 billion. Highway construction for the month was estimated at a seasonally adjusted annual rate of $98.8 billion, down 2.2% below February's revised estimate of $101.1 billion.