US construction spending for March 0.1% versus 0.7% estimate

US construction spending for March 2022 shows:

• Construction spending 0.1% versus 0.7% estimate
• Prior month 0.5%
• Year on year +11.7%
• For the first three months of 2022, total construction came in at $376.6 billion which is up 12% above the $336.3 billion for the same period in 2021
• Private construction +0.2%. This month private construction came in at $1379.7 billion versus last month's $1376.9 billion
• Residential construction +1.0% to $882 billion from eight to $73.2 billion last month
• Nonresidential construction -1.2% at $497.6 billion versus $503.6 billion last month
• Public construction -0.2%. This month Public construction came in at $350.8 billion down from a $351.7 billion in February
• Educational construction came in at -0.8% while highway construction fell -0.4%

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