The 2020 Mid-Year Economic Update_long

Year-to-Date, Construction Spending Down 2.5%


Construction spending during April 2007 was estimated at a seasonally adjusted annual rate of $1,190.0 billion, 0.1 percent (& plusmn; 1.3%) ...

Construction spending during April 2007 was estimated at a seasonally adjusted annual rate of $1,190.0 billion, 0.1 percent (& plusmn; 1.3%)* above the revised March estimate of $1,188.9 billion, according to the U.S. Census Bureau of the Department of Commerce.

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The April figure is 2.0 percent (& plusmn; 1.9%) below the April 2006 estimate of $1,214.4 billion. During the first four months of this year, construction spending amounted to $345.1 billion, 2.5 percent (& plusmn; 1.8%) below the $353.8 billion for the same period in 2006.
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Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $898.9 billion, 0.1 percent (& plusmn; 1.3%)* below the revised March estimate of $899.9 billion. Residential construction was at a seasonally adjusted annual rate of $563.0 billion in April, 1.0 percent (& plusmn; 1.3%)* below the revised March estimate of $568.8 billion.
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Nonresidential construction was at a seasonally adjusted annual rate of $335.9 billion in April, 1.5 percent (& plusmn; 1.3%) above the revised March estimate of $331.1 billion.
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Public Construction
In April, the estimated seasonally adjusted annual rate of public construction spending was $291.0 billion, 0.7 percent (& plusmn; 2.1%)* above the revised March estimate of $289.1 billion. Educational construction was at a seasonally adjusted annual rate of $76.4 billion, 0.7 percent (& plusmn; 3.5%)* above the revised March estimate of $75.9 billion. Highway construction was at a seasonally adjusted annual rate of $80.2 billion, 0.3 percent (& plusmn; 6.2%)* above the revised March estimate of $80.0 billion.

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