Construction Spending Fell 1.4% in April

Washington, DC, June 1, 2017-Construction spending during April 2017 was estimated at a seasonally adjusted annual rate of $1,218.5 billion, 1.4% below the revised March estimate of $1,235.5 billion, the U.S. Census Bureau reports.

The April figure is 6.7% above the April 2016 estimate of $1,142.5 billion. During the first four months of this year, construction spending amounted to $359.5 billion, 5.8% above the $339.7 billion for the same period in 2016.

Spending on private construction was at a seasonally adjusted annual rate of $943.3 billion, 0.7% below the revised March estimate of $949.7 billion. Residential construction was at a seasonally adjusted annual rate of $516.7 billion in April, 0.7% below the revised March estimate of $520.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6% below the revised March estimate of $429.3 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $275.3 billion, 3.7% below the revised March estimate of $285.9 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 2.0% below the revised March estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $89.5 billion, 3.7% below the revised March estimate of $93.0 billion.