Construction Spending Rises 0.3% to $969.7B

Spending on construction projects rose 0.3% to a seasonally adjusted annual rate of $969.7 billion in March as private construction decreased 0.1% and public construction rose 1.1%, according to Commerce Department figures released yesterday.

The overall increase, which contrasted with the 1.5% decrease projected by Thomson Reuters, followed a revised February level of $967.1 billion, a 1.0% decline from the prior month originally reported as a 0.9% drop to $967.5 billion.

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