Construction Spending Held Steady in April

Washington, DC, June 3, 2019-Construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as the revised March estimate of $1,299.2 billion, according to the U.S. Census Bureau.

The April figure is 1.2% below the April 2018 estimate of $1,314.7 billion. During the first four months of this year, construction spending amounted to $386.1 billion, 0.2% above the $385.5 billion for the same period in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $954.0 billion, 1.7% below the revised March estimate of $970.4 billion. Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, 0.6% below the revised March estimate of $502.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in April, 2.9% below the revised March estimate of $468.0 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $344.6 billion, 4.8% above the revised March estimate of $328.7 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 2.1% above the revised March estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $114.3 billion, 6.8% above the revised March estimate of $107.0 billion.