Construction Spending Fell 1.4% in April

Construction spending decreased 1.4% in April to a seasonally adjusted annual level (SAAL) of $1,218.5 billion, according to the Census Bureau. March’s spending estimate was revised to a rate of $1,235.5 billion. April’s figure is 6.7% greater than the April 2016 estimate of $1,142.5 billion.

Total private construction was $943.3 billion SAAL, a 0.7% decrease from the revised March estimate of $949.7 billion.

Private residential construction was $516.7 billion SAAL, 0.7% below March’s rate.

Private nonresidential construction was $426.6 billion, 0.6% below March’s estimate.

Public construction decreased 3.7% to $275.3 billion SAAL.

Read the Census release.