U.S. construction spending drops just 2.9 percent in April
Through April, total spending was up 7.1 percent YoY.
The U.S. Census Bureau announced the following value put in place construction statistics
for April 2020:
Total Construction
Construction spending during April 2020 was estimated at a seasonally adjusted annual rate of $1,346.2 billion, 2.9 percent (±0.8 percent) below the revised March estimate of $1,386.6 billion. The April figure is 3.0 percent (±1.5 percent) above the April 2019 estimate of $1,307.1 billion.
During the first four months of this year, construction spending amounted to $412.5 billion, 7.1 percent (±1.2 percent) above the $385.2 billion for the same period in 2019.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,004.1 billion, 3.0 percent (±0.7 percent) below the revised March estimate of $1,035.6 billion.
Residential construction was at a seasonally adjusted annual rate of $536.8 billion in April, 4.5 percent (±1.3 percent) below the revised March estimate of $561.9 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $467.3 billion in April, 1.3 percent (±0.7 percent) below the revised March estimate of $473.6 billion.
Public Construction
In April, the estimated seasonally adjusted annual rate of public construction spending was $342.1 billion, 2.5 percent (±1.5 percent) below the revised March estimate of $351.0 billion.
Educational construction was at a seasonally adjusted annual rate of $78.6 billion, 2.3 percent (±1.5 percent) below the revised March estimate of $80.4 billion.
Highway construction was at a seasonally adjusted annual rate of $106.1 billion, 5.2 percent (±4.6 percent) below the revised March estimate of $111.9 billion.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
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Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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