The U.S. Census Bureau announced the following value put in place construction statistics for March 2023: Total Construction – Construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3 percent (±0.5 percent)* above the revised February estimate of $1,829.6 billion. The March figure is 3.8 percent (±1.2 percent) above the March 2022 estimate of $1,768.2 billion. During the first three months of this year, construction spending amounted to $403.3 billion, 4.3 percent (±1.0 percent) above the $386.7 billion for the same period in 2022. Private Construction – Spending on private construction was at a seasonally adjusted annual rate of $1,435.1 billion, 0.3 percent (±0.5 percent)* above the revised February estimate of $1,430.8 billion. Residential construction was at a seasonally adjusted annual rate of $827.7 billion in March, 0.2 percent (±1.3 percent)* below the revised February estimate of $829.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $607.4 billion in March, 1.0 percent (±0.5 percent) above the revised February estimate of $601.6 billion. Public Construction – In March, the estimated seasonally adjusted annual rate of public construction spending was $399.6 billion, 0.2 percent (±1.0 percent)* above the revised February estimate of $398.8 billion. Educational construction was at a seasonally adjusted annual rate of $86.9 billion, 0.7 percent (±1.8 percent)* above the revised February estimate of $86.3 billion. Highway construction was at a seasonally adjusted annual rate of $121.7 billion, 0.1 percent (±2.6 percent)* below the revised February estimate of $121.8 billion.
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
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