US construction spending falls in March
Published by
ScrapPrices
Published on May 02,2025 08:00 AM Steel
The Commerce Department's Census Bureau said on Thursday that construction spending dropped 0.5% after a slightly downwardly revised 0.6% increase in February. Economists polled by Reuters had forecast construction spending gaining 0.2% after a previously reported 0.7% jump in February.
US construction spending falls in March

WASHINGTON, May 1(Reuters) - U.S. construction spending unexpectedly fell in March amid broad declines in outlays on private and public projects.

The Commerce Department's Census Bureau said on Thursday that construction spending dropped 0.5% after a slightly downwardly revised 0.6% increase in February. Economists polled by Reuters had forecast construction spending gaining 0.2% after a previously reported 0.7% jump in February.

Construction spending increased 2.8% year-on-year in March.

Spending on private construction projects fell 0.6%. Investment in residential construction slipped 0.4%, with outlays on new single-family projects edging up 0.1%.

High mortgage rates and tariffs on imported goods are constraining homebuilding. The National Association of Homebuilders estimated last month that the latest round of tariffs, including boosting duties on Chinese imports to 145% and imposing a 25% levy on foreign steel and aluminum had increased construction costs by $10,900 per home.

Outlays on multi-family housing units were unchanged in March. Investment in private non-residential structures like offices and factories declined 0.8%.

Spending on public construction projects eased 0.2%. State and local government spending also fell 0.2%, while outlays on federal government projects decreased 0.4%.

MORE STEEL NEWS
May 12,2025 10:00 AM
Quotations for HMS 1&2 (80:20) scrap in Turkey increased from $330/t to $338/t CFR from April 30 to May 6, according to Kallanish. Suppliers have raised their requests as mills are planning the necessary purchases for June.
May 08,2025 06:00 AM
China's steel exports are set to slump in the second quarter, threatening to exacerbate a supply glut at home, analysts and traders said, as the trade war and a wave of protectionism moving in its wake crimps export markets.
May 05,2025 09:00 AM
US Steel Corporation, one of the largest steel producers in the United States, reduced steel shipments by 1.1% year-on-year – to 3.76 million short tons in the first quarter of 2025. This is stated in the company’s report.