Construction Spending Rose 1.8% in April

Washington, DC, June 2, 2018-- Construction spending during April 2018 was estimated at a seasonally adjusted annual rate of $1,310.4 billion, 1.8% above the revised March estimate of $1,286.8 billion, according to the U.S. Census Bureau.

The April figure is 7.6% above the April 2017 estimate of $1,217.7 billion. During the first four months of this year, construction spending amounted to $387.0 billion, 6.6% above the $363.1 billion for the same period in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $1,014.3 billion, 2.8% above the revised March estimate of $986.6 billion. Residential construction was at a seasonally adjusted annual rate of $556.3 billion in April, 4.5% above the revised March estimate of $532.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $458.0 billion in April, 0.8% above the revised March estimate of $454.2 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $296.1 billion, 1.3% below the revised March estimate of $300.1 billion. Educational construction was at a seasonally adjusted annual rate of $74.2 billion, nearly the same as the revised March estimate of $74.2 billion. Highway construction was at a seasonally adjusted annual rate of $88.0 billion, 1.0% below the revised March estimate of $88.8 billion.