Construction Spending Increases in April

Washington, DC, June 1, 2012 -- Construction spending rose 0.3% in April, according to the Commerce Department.

The increase matched analysts' estimates of a seasonally adjusted annual rate of $821 billion.

Private residential construction rose 2.8%, while private nonresidential construction fell 0.2%.

Public construction spending declined 1.4%. Total construction spending is up 6.8% over one year ago.

Spending in March was revised to a 0.3% gain from a prior estimate of a 0.1% increase.