U.S. Construction Annual Spend Rate Upticks to $765 Billion in April
By Michael Gerrity
According to the U.S. Census Bureau of the Department of Commerce, construction spending during April 2011 was estimated at a seasonally adjusted annual rate of $765.0 billion, 0.4 percent (±1.6%) above the revised March estimate of $762.1 billion. The April figure is 9.3 percent (±1.6%) below the April 2010 estimate of $843.1 billion. During the first 4 months of this year, construction spending amounted to $222.7 billion, 8.4 percent (±1.4%) below the $243.0 billion for the same period in 2010.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $483.0 billion, 1.7 percent (±1.4%) above the revised March estimate of $474.7 billion. Residential construction was at a seasonally adjusted annual rate of $232.1 billion in April, 3.1 percent (±1.3%) above the revised March estimate of $225.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $250.8 billion in April, 0.5 percent (±1.4%) above the revised March estimate of $249.6 billion.
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