Construction Spending Rate Increased in April

Construction spending rose 0.2% at a seasonally adjusted annual rate (SAAR) of $1,524.2 billion in April, according to the Census Bureau. April’s figure is 9.8% above the April 2020 estimate of $1,387.9 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,180.7 billion, 0.4% above the revised March estimate of $1,175.4 billion. Private residential construction was at a seasonally adjusted annual rate of $729.2 billion in April, 1.0% above the revised March estimate of $721.8 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $451.4 billion in April, 0.5% below the revised March estimate of $453.7 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $343.5 billion, 0.6% below the revised March estimate of $345.6 billion.

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