Private Nonresidential Construction Spending Hits All-time High

Private nonresidential construction spending rose 0.5% in March and is up 2.1% on a year-over-year basis. Public nonresidential spending fell 1.3% but is up 9% for the year. Spending decreased in nine of the 16 subcategories, with religious (-4.4%), commercial (-2.5%), and amusement and recreation (-2.3%) reporting the most significant declines. Manufacturing (+2.5%) and lodging (+1.5%) topped the list in terms of monthly construction spending growth. Read more here.

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