The U.S. Department of Commerce reported residential construction spending crept up to a seasonally adjusted rate of $294.9 billion in March, 0.4 percent over February and 18.2 percent over March 2012. Total private construction dipped 0.6 percent from February to $598.4 billion.
Public construction spending dropped 4.1 percent from February to $258.3 billion, with education construction down 2.9 percent to $62.8 billion.
Overall construction edged down 1.7 percent from February to $856.7 billion, which is 4.8 percent above March 2012.
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