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In The News:

April Construction Spending 10.5% Below April 2009

Construction spending in April 2010 was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7 percent above the revised March estimate of $845.9 billion, according to the U.S. Census Bureau of the Department of Commerce. The April figure is 10.5 percent below the April 2009 estimate of $971.4 billion.

During the first four months of this year, construction spending amounted to $249.6 billion, 13.2 percent below the $287.5 billion for the same period in 2009.

Spending on private construction was at a seasonally adjusted annual rate of $565.8 billion, 2.9 percent above the revised March estimate of $549.7 billion. Residential construction was at a seasonally adjusted annual rate of $263.0 billion in April, 4.4 percent above the revised March estimate of $251.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $302.7 billion in April, 1.7 percent above the revised March estimate of $297.8 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $303.3 billion, 2.4 percent above the revised March estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual rate of $74.7 billion, 0.4 percent above the revised March estimate of $74.4 billion. Highway construction was at a seasonally adjusted annual rate of $84.3 billion, 3.6 percent above the revised March estimate of $81.3 billion.

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