April Construction Spending Up 0.3% over March

Private construction spending increased 1.2 percent over March.

Construction spending during April 2012 was estimated at a seasonally adjusted annual rate of $820.7 billion, 0.3 percent above the revised March estimate of $818.1 billion, according to the U.S. Census Bureau. The April figure is 6.8 percent above the April 2011 estimate of $768.2 billion.

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During the first four months of this year, construction spending amounted to $238.5 billion, 7.3 percent above the $222.2 billion for the same period in 2011.

Spending on private construction was at a seasonally adjusted annual rate of $549.7 billion, 1.2 percent above the revised March estimate of $543.4 billion. Residential construction was at a seasonally adjusted annual rate of $256.1 billion in April, 2.8 percent above the revised March estimate of $249.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $293.6 billion in April, 0.2 percent below the revised March estimate of $294.3 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $271.0 billion, 1.4 percent below the revised March estimate of $274.7 billion. Educational construction was at a seasonally adjusted annual rate of $68.3 billion, 0.9 percent below the revised March estimate of $68.9 billion. Highway construction was at a seasonally adjusted annual rate of $77.3 billion, 0.4 percent above the revised March estimate of $77.0 billion.

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