Construction spending up 1.2 percent in March

By: Angela Webber//May 2, 2011//

Construction spending up 1.2 percent in March

Angela Webber//May 2, 2011//

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U.S. Construction spending rose 1.2 percent in March to $768.9 billion, according to a report released this morning by the Commerce Department. The increase is the largest uptick in construction spending since last April and got a boost from private construction, particularly in the residential and manufacturing areas.

Private construction rose by 2.2 percent to $476.1 billion, while public spending only went up 0.1 percent to $292.8 billion. Construction spending is still down 6.7 percent over last year at this time.