Construction spending increases in April

Construction spending was at a seasonally adjusted annual rate of $1,744.8 billion in April, 0.2% above the revised March estimate of $1,740.6 billion. The April figure is 12.3% above the April 2021 estimate of $1,553.5 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,394.7 billion, 0.5% above the revised March estimate of $1,387.9 billion. Private residential construction was at a seasonally adjusted annual rate of $891.5 billion in April, 0.9% above the revised March estimate of $883.5 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $503.2 billion in April, 0.2% below the revised March estimate of $504.4 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $350.1 billion, 0.7% below the revised March estimate of $352.7 billion.

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