Construction Spending Rate Rose 1.8% in April

Construction spending increased 1.8% at a seasonally adjusted annual level (SAAL) of $1,310.4 billion, in April, according to the Census Bureau. March’s spending estimate was upwardly revised to $1,286.8 billion. April’s figure is 7.6% greater than the April 2017 estimate of $1,217.7 billion.

Total private construction was $1,014.3 billion SAAL, a 2.8% increase from the revised March estimate of $986.6 billion. Total private construction is 7.6% higher than the April 2017 figure.

Private residential construction was $556.3 billion SAAL, 4.5% higher than March’s rate. April’s figure was 9.5% greater than its April 2017 estimate.

Private nonresidential construction was $458.0 billion SAAL, 0.8% above March’s estimate. April’s rate is 5.3% greater than the April 2017 figure.

Public construction declined 1.3% at $296.1 billion SAAL. April’s figure is 7.7% above the April 2017 estimate.

Read the Census release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.