U.S. Construction Through April Trends 7.3 Percent Higher Than 2011.
Private construction ticks up 1.2 percent over March; Residential adds 2.8 percent.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2012 was estimated at a seasonally adjusted annual rate of $820.7 billion, 0.3 percent (±1.3%)* above the revised March estimate of $818.1 billion. The April figure is 6.8 percent (±1.9%) above the April 2011 estimate of $768.2 billion.
During the first 4 months of this year, construction spending amounted to $238.5 billion, 7.3 percent (±1.6%) above the $222.2 billion for the same period in 2011.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $549.7 billion, 1.2 percent (±1.3%)* above the revised March estimate of $543.4 billion.
Residential construction was at a seasonally adjusted annual rate of $256.1
billion in April, 2.8 percent (±1.3%) above the revised March estimate of $249.1 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $293.6 billion in April, 0.2 percent (±1.3%)* below the revised March estimate of $294.3 billion.
PUBLIC CONSTRUCTION
In April, the estimated seasonally adjusted annual rate of public construction spending was $271.0 billion, 1.4 percent (±2.1%)* below the revised March estimate of $274.7 billion.
Educational construction was at a seasonally adjusted annual rate of $68.3 billion, 0.9 percent (±5.0%)* below the revised March estimate of $68.9 billion.
Highway construction was at a seasonally adjusted annual rate of $77.3 billion, 0.4 percent (±5.4%)* above the revised March estimate of $77.0 billion.
