April Construction Spending Fell 1.8% from March, But Up 4.5% YOY

Washington, DC, July 1, 2016—Construction spending during April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8% below the revised March estimate of $1,155.1 billion, the U.S. Census Bureau of the Department of Commerce announced.

The April figure is 4.5% above the April 2015 estimate of $1,085.0 billion.

During the first 4 months of this year, construction spending amounted to $334.8 billion, 8.7% above the $307.9 billion for the same period in 2015.

Spending on private construction was at a seasonally adjusted annual rate of $843.1 billion, 1.5% below the revised March estimate of $855.9 billion. Residential construction was at a seasonally adjusted annual rate of $439.7 billion in April, 1.5% below the revised March estimate of $446.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $403.5 billion in April, 1.5% below the revised March estimate of $409.6 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $290.8 billion, 2.8% below the revised March estimate of $299.2 billion. Educational construction was at a seasonally adjusted annual rate of $70.0 billion, 2.5% below the revised March estimate of $71.8 billion. Highway construction was at a seasonally adjusted annual rate of $89.4 billion, 6.6% below the revised March estimate of $95.7 billion.