Construction Spending Down 1.4 Percent in April

June 1, 2017

The Commerce Department reported today that total construction spending fell 1.4 percent in April to $1,218.5 billion from March figures of $1,235.5 billion. However, April's figure is 6.7 percent above April 2016's estimate of $1,142.5 billion. During the first four months of 2017, construction spending is up 5.8 percent at $359.5 billion compared to last year's $339.7 billion for the same period.

Private construction in April came in at $943.3 billion, little changed from the March estimate of $949.7 billion. Residential construction was at a seasonally adjusted annual rate of $516.7 billion in April, 0.7 percent below the revised March estimate of $520.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6 percent below the revised March estimate of $429.3 billion.

April's public construction spending was $275.3 billion, 3.7 percent below the revised March estimate of $285.9 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 2.0 percent below the revised March estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $89.5 billion, 3.7 percent below the revised March estimate of $93.0 billion.

Click here for the complete U.S. Census Bureau Monthly Construction Spending report for April 2017.

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