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Construction Spending Flat in April

Wed, June 12, 2019 9:39 AM | Anonymous member (Administrator)

Construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as the revised March estimate of $1,299.2 billion. However, the April figure was 1.2 percent below the April 2018 estimate of $1,314.7 billion. The slowness or downturn during April came on the private sector spending side, while the public side saw healthy upticks in outlays. During the first four months of this year, construction spending amounted to $386.1 billion, or only 0.2 percent above the $385.5 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $954.0 billion, 1.7 percent below the revised March estimate of $970.4 billion. Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, 0.6 percent below the revised March estimate of $502.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in April, 2.9 percent below the revised March estimate of $468.0 billion.

PUBLIC CONSTRUCTION:
Public Construction In April, the estimated seasonally adjusted annual rate of public construction spending was $344.6 billion, 4.8 percent above the revised March estimate of $328.7 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 2.1 percent above the revised March estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $114.3 billion, 6.8 percent above the revised March estimate of $107.0 billion.

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