According to May 1 construction spending report by U.S. Census Bureau, nonresidential construction spending declined 2.9% in March. Year-over-year total nonresidential construction spending is down 1.2%, and total nonresidential construction spending stands at $555.08 billion on annual basis. Respectively, private and public segments registered monthly declines of 1.5% and 4.5% in construction spending. Residential construction spending was up 0.7% for month and 17.8% year-over-year.
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