March 2014 construction spending was estimated at a seasonally adjusted annual rate of $942.5 billion.
The rate is 0.2 percent higher than February's revised estimate of $940.8 billion, and 8.4 percent higher than the March 2013 estimate of $869.2 billion. Construction spending during the first three months of 2014 totaled $196.6 billion, or 8.3 percent greater than the $181.6 billion in spending for the same period last year.
Private construction was at a seasonally adjusted annual rate of $679.6 billion, about a half-percent increase over February's revised estimate of $676.3 billion. Residential construction was $369.8 billion in March, 0.8 percent above February's $367 billion.
Public construction spending was $262.9 billion, a drop of 0.6 percent from the revised February estimate of $264.5 billion.
