According to the U.S. Census Bureau of the Department of Commerce, total construction spending for April 2014 was estimated at a seasonally adjusted annual rate of $953.5 billion. This rate is an increase of 0.2 percent from the revised March estimate of $951.6 billion. Compared to a year ago, the April rate is up 8.6 percent from that of the April 2013 rate, which was estimated at $878.4 billion. So far this year, construction spending has totaled $274.5 billion, an increase of 8.9 percent compared to the $252.1 billion for the first four months of 2013.
Private construction spending in April was estimated at a seasonally adjusted annual rate of $686.5 billion, remaining nearly unchanged from March’s revised estimate of $686.8 billion. Residential construction spending for April was at a seasonally adjusted annual rate of $378.5 billion, a slight increase of 0.1 percent from the previous month’s revised estimate of $378.3 billion. Nonresidential construction spending for April was estimated at $308.0 billion, down 0.1 percent from March’s revised estimate of $308.5 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $267.0 billion, up 0.8 percent from March’s revised estimate of $264.8 billion. Educational construction spending for April was at an adjusted rate of $62.6 billion, up 3.0 percent from the revised March estimate of $60.8 billion. Highway construction spending was estimated at an adjusted rate of $81.3 billion for April, dropping 1.1 percent from March’s revised estimate of $82.2 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
