Total construction spending in March 2023 was up 0.3% from the revised February estimate, according to the U.S. Census Bureau. Spending in March was up 3.8% from the prior-year period. Spending in the first three months of 2023 was $403.3 billion, up 4.3% from the prior-year period.
Private construction spending was up 0.3% from February. Residential construction was down 0.2% from February. Nonresidential construction was 1% above February.
The estimated seasonally adjusted annual rate of public construction spending in March 2023 was 0.2% above February. Educational construction was up 0.7% from February. Highway construction was down 0.1% from January.