April construction spending was estimated at a seasonally adjusted annual rate of $1,218.5 billion, 1.4 percent below the revised March estimate of $1,235.5 billion, according to the U.S. Census Bureau of the Department of Commerce. The April figure is 6.7 percent above the April 2016 estimate of $1,142.5 billion.
Year to date, construction spending was $359.5 billion, 5.8 percent above the $339.7 billion for the same period in 2016.
In April, spending on private construction was at a seasonally adjusted annual rate of $943.3 billion, 0.7 percent below the revised March estimate of $949.7 billion. Residential construction was at a seasonally adjusted annual rate of $516.7 billion in April, 0.7 percent below the revised March estimate of $520.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6 percent below the revised March estimate of $429.3 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $275.3 billion, 3.7 percent below the revised March estimate of $285.9 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 2 percent below the revised March estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $89.5 billion, 3.7 percent below the revised March estimate of $93 billion.
