The 2020 Mid-Year Economic Update_long

April Construction Spending Up 4.8% Year-Over-Year

Construction spending was up 2.2 percent from March.

April 2015 construction spending was estimated at a seasonally adjusted annual rate of $1,006.1 billion, 2.2 percent above the revised March estimate of $984 billion, according to the U.S. Census Bureau of the Department of Commerce. The April figure is 4.8 percent above the April 2014 estimate of $960.3 billion.

During the first four months of the year, construction spending amounted to $288.7 billion, 4.1 percent above the $277.3 billion for the same period in 2014.

Spending on private construction was at a seasonally adjusted annual rate of $725.2 billion, 1.8 percent above the revised March estimate of $712.1 billion. Residential construction was at a seasonally adjusted annual rate of $353.1 billion in April, 0.6 percent above the revised March estimate of $351.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $372.1 billion in April, 3.1 percent above the revised March estimate of $361 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $280.9 billion, 3.3 percent above the revised March estimate of $271.9 billion. Educational construction was at a seasonally adjusted annual rate of $63.3 billion, 3.6 percent above the revised March estimate of $61.2 billion. Highway construction was at a seasonally adjusted annual rate of $87.1 billion, 8.5 percent above the revised March estimate of $80.3 billion.

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