April construction spending rate tops $1 trillion
Private construction trends at $725 billion annual rate; public pace is $281 billion.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2015 was estimated at a seasonally adjusted annual rate of $1,006.1 billion, the highest rate in six years.
April's pace was 2.2 percent (±1.5%) above the revised March estimate of $984.0 billion. The April figure is 4.8 percent (±2.0%) above the April 2014 estimate of $960.3 billion.
During the first 4 months of this year, construction spending amounted to $288.7 billion, 4.1 percent (±1.5%) above the $277.3 billion for the same period in 2014.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $725.2 billion, 1.8 percent (±1.2%) above the revised March estimate of $712.1 billion.
Residential construction was at a seasonally adjusted annual rate of $353.1 billion in April, 0.6 percent (±1.3%)* above the revised March estimate of $351.1 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $372.1 billion in April, 3.1 percent (±1.2%) above the revised March estimate of $361.0 billion.
PUBLIC CONSTRUCTION
In April, the estimated seasonally adjusted annual rate of public construction spending was $280.9 billion, 3.3 percent (±2.8%) above the revised March estimate of $271.9 billion.
Educational construction was at a seasonally adjusted annual rate of $63.3 billion, 3.6 percent (±4.3%)* above the revised March estimate of $61.2 billion.
Highway construction was at a seasonally adjusted annual rate of $87.1 billion, 8.5 percent (±9.0%)* above the revised March estimate of $80.3 billion.
CONTRACTOR SUPPLY MAGAZINE
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