Washington, DC, Jun. 1--Spending on construction increased 1.3% in April, estimated at a seasonally adjusted annual rate of $970.4 billion, the Commerce Department said Tuesday.
The advance followed an upwardly revised 2.4% increase in March. Spending for that month was originally estimated as rising 1.5%.
Wall Street was expecting a 0.5% increase in April outlays.
The $970.4 billion figure was an all-time high, the Commerce Department said.
The report showed residential construction rose 1.2% at a seasonally adjusted annual rate of $526.5 billion. Spending in March went up 1.4%.
Private construction spending went up 1.2%. Private construction includes houses, office buildings, factories and hospitals.
Residential private construction rose 1.2% at a rate of $520.7 billion. Non-residential private construction went up 1.3% to a $219.2 billion annual rate.
Spending on public construction grew 1.7% in April to a rate of $230.5 billion, the Commerce Department said. The category includes roads, sewer systems and schools. Federal government outlays climbed 7.9%, while state and local spending rose 1.2%.
Year over year, total construction spending was 11.3% higher compared to April 2003.
