CONSTRUCTION SPENDING INCHES UP IN MARCH COMPARED TO FEBRUARY AS PRIVATE SECTOR SPENDING CONTRIBUTES TO 6 PERCENT ANNUAL INCREASE IN ACTIVITY

WASHINGTON, D.C. – May 3, 2012 – (RealEstateRama) — Construction spending inched up in March 2012 to an annualized rate of $808 billion, up 0.1 percent compared to the previous month and is now 6 percent above year ago levels, according to a new analysis of federal data released today by the Associated General Contractors of America. The overall gains mask divergent trends however, as public sector construction activity continues to decline while private sector demand for new construction continues to strengthen.