According to the U.S. Census Bureau of the Department of Commerce, total construction spending for April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion. This rate is a decrease of 1.8 percent from the revised March estimate of $1,155.1 billion. Compared to a year ago, the April rate is up 4.5 percent from that of the April 2015 rate, which was estimated at $1,085.0 billion. So far this year, construction spending has totaled $334.8 billion, an increase of 8.7 percent compared to the $307.9 billion for the first four months of 2015.
Private construction spending in April was estimated at a seasonally adjusted annual rate of $843.1 billion, down 1.5 percent from March’s revised estimate of $855.9 billion. Residential construction spending for April was at a seasonally adjusted annual rate of $439.7 billion, a decrease of 1.5 percent from the previous month’s revised estimate of $446.3 billion. Nonresidential construction spending for April was estimated at $403.5 billion, down 1.5 percent from March’s revised estimate of $409.6 billion.
Public construction spending was estimated at a seasonally adjusted annual rate of $290.8 billion, down 2.8 percent from March’s revised estimate of $299.2 billion. Educational construction spending for April was at an adjusted rate of $70.0 billion, down 2.5 percent from the revised March estimate of $71.8 billion. Highway construction spending was estimated at an adjusted rate of $89.4 billion for April, down 6.6 percent from March’s revised estimate of $95.7 billion.
For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.
