Total spending on construction dropped 1.7 percent in March, falling from $1.30 million in February to $1.28 million.
It’s the first decline in construction spending in four months, but spending still remains 3.6 percent above spending in March 2017.
Residential construction declined 3.5 percent from February, from $563,559 to $543,812. Nonresidential construction spending fell 0.3 percent, from $742,801 to $740,928.
Total private construction ticked down 2.1 percent to $987,492 compared with February’s $1.0 million. Total public construction remained steady at $297,248.
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