Construction Spending Sees Biggest Gain In 2 Years

June 4, 2018
April construction spending data showed a surge of 1.8 percent

The Commerce Department has released April's construction spending data showing a surge of 1.8 percent, the largest increase since January 2016, after an unrevised 1.7 percent decline in March.

Total Construction Construction spending during April 2018 was estimated at a seasonally adjusted annual rate of $1,310.4 billion, 1.8 percent above the revised March estimate of $1,286.8 billion. The April figure is 7.6 percent above the April 2017 estimate of $1,217.7 billion.

During the first four months of this year, construction spending amounted to $387.0 billion, 6.6 percent above the $363.1 billion for the same period in 2017.  

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,014.3 billion, 2.8 percent above the revised March estimate of $986.6 billion.  

Residential construction was at a seasonally adjusted annual rate of $556.3 billion in April, 4.5 percent above the revised March estimate of $532.4 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $458.0 billion in April, 0.8 percent  above the revised March estimate of $454.2 billion.

Public Construction

In April, the estimated seasonally adjusted annual rate of public construction spending was $296.1 billion, 1.3 percent  below the revised March estimate of $300.1 billion.

Educational construction was at a seasonally adjusted annual rate of $74.2 billion, nearly the same asthe revised March estimate of $74.2 billion.

Highway construction was at a seasonally adjusted annual rate of $88.0 billion, 1.0 percent below the revised March estimate of $88.8 billion.

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