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In The News:

Construction Spending Up 8.9% Year-to-Date

Construction spending in April 2014 was estimated at a seasonally adjusted annual rate of $953.5 billion, 0.2 percent above March and 8.6 percent above April 2013, according to the U.S. Census Bureau of the Department of Commerce.

In the first four months of the year, construction spending was $274.5 billion, 8.9 percent above the same period in 2013.

Spending on private construction was at a seasonally adjusted annual rate of $686.5 billion, nearly the same as March. Residential construction was at a seasonally adjusted annual rate of $378.5 billion in April, 0.1 percent above March. Nonresidential construction was at a seasonally adjusted annual rate of $308 billion, 0.1 percent below March.

In April, the estimated seasonally adjusted annual rate of public construction spending was $267 billion, 0.8 percent above March. Educational construction was at a seasonally adjusted annual rate of $62.6 billion, 3 percent above March. Highway construction was at a seasonally adjusted annual rate of $81.3 billion, 1.1 percent below March.

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