Construction Spending Rose 0.2% in April

Washington, DC, June 1, 2022-Construction spending during April 2022 was estimated at a seasonally adjusted annual rate of $1,744.8 billion, 0.2% above the revised March estimate of $1,740.6 billion. 

The April figure is 12.3% above the April 2021 estimate of $1,553.5 billion. During the first four months of this year, construction spending amounted to $520.8 billion, 12.4% above the $463.3 billion for the same period in 2021.

Spending on private construction was at a seasonally adjusted annual rate of $1,394.7 billion, 0.5% above the revised March estimate of $1,387.9 billion. Residential construction was at a seasonally adjusted annual rate of $891.5 billion in April, 0.9% above the revised March estimate of $883.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $503.2 billion in April, 0.2% below the revised March estimate of $504.4 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $350.1 billion, 0.7% below the revised March estimate of $352.7 billion. Educational construction was at a seasonally adjusted annual rate of $79.6 billion, 0.7% below the revised March estimate of $80.1 billion. Highway construction was at a seasonally adjusted annual rate of $103.4 billion, 0.1% below the revised March estimate of $103.5 billion.