U.S. construction spending climbs 1.8 percent in April
Private sector activity drives trend.
The U.S. Census Bureau announced the following value put in place construction statistics
for April 2018:
Total Construction
Construction spending during April 2018 was estimated at a seasonally adjusted annual rate of $1,310.4 billion, 1.8 percent (±1.0 percent) above the revised March estimate of $1,286.8 billion. The April figure is 7.6 percent (±1.5 percent) 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 percent (±1.2 percent) above the $363.1 billion for the same period in 2017.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,014.3 billion, 2.8 percent (±0.8 percent) 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 percent (±1.3 percent) 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 percent (±0.8 percent)* above the revised March estimate of $454.2 billion.
Public Construction
In April, the estimated seasonally adjusted annual rate of public construction spending was $296.1 billion, 1.3 percent (±2.0 percent)* 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 (±2.3 percent)* the revised March estimate of $74.2 billion.
Highway construction was at a seasonally adjusted annual rate of $88.0 billion, 1.0 percent (±6.3 percent)* below the revised March estimate of $88.8 billion.
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