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May 02, 2022US CONSTRUCTION SPENDING, MARCH 2022 
Month over month (Mar 2022 vs. Feb 2022 , seasonally adjusted annual rate)
US construction spending increased 0.1% to $1,731 billion. This follows a revised gain of 0.5% reported in February 2022, when construction spending totaled $1,729 billion. Total residential construction increased 1.0% to $891 billion. Total non-residential construction spending declined 0.8% to $839 billion.
Private sector construction increased 0.2% to $1,380 billion. Private residential construction increased 1.0% to $882 billion, while private non-residential construction spending declined 1.2% to $498 billion.
Public sector construction declined 0.2% to $351 billion. Public residential construction increased 0.5% to $9.2 billion, while public non-residential construction spending declined 0.3% to $342 billion.
Year over year (Mar 2022 vs. Mar 2021)
US Construction spending was up 11.7%.
Private sector construction spending was up 14.6%. Private residential construction spending was up 18.4%, while private non-residential construction spending was up 8.5%.
Public sector construction spending was up 1.7%. Public residential construction spending was up 1.2%, while public non-residential construction spending increased 1.7%.
Year-to-date (Jan-Mar 2022 vs Jan-Mar 2021)
In the first three months of 2022, US construction spending was up 11.8% from the same period last year. Total residential construction was up 18.7%. Total non-residential construction was up 5.4%. Private sector construction was up 15.0%. Public sector construction was up 0.8%.
Source: US Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis, May 2, 2022.
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