CONSTRUCTION SPENDING DROPS TO $1.285 TRILLION IN MARCH FROM FEBRUARY AS PRIVATE-SECTOR DEMAND FOR CONSTRUCTION FALLS AMID TARIFF AND TRADE FEARS
Construction spending hit a seasonally adjusted annual rate of $1.285 trillion in March, down from the month before, but still up compared to a year ago, according to an analysis of new Census data by the Associated General Contractors of America. Association officials noted that the monthly decline in construction activity came largely from drops in private sector demand as new steel and aluminum tariffs and the price increases they have prompted appear to be impacting demand.