US construction spending up 0.6% in March

Construction spending in the United States totaled $2.18 trillion in March, up by 0.6% compared to the previous month's revised figure, the US Census Bureau revealed in a report on Thursday. On an annual basis, the figure advanced 1%. Spending on private construction reached $1.65 trillion, 0.8% higher than the revised February reading. Residential construction increased by 1.7% to $1.64 trillion in March, while nonresidential construction declined 0.2% to $729 billion. Public construction was $526 billion, 0.2% higher than last month's figure.