Construction Spending Continues to Rise

The U.S. Census Bureau of the Department of Commerce announced June 1 that construction spending during April 2010  was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7 percent (±1.4%) above the revised March estimate  of $845.9 billion. The April figure is 10.5 percent (±1.6%) below the April 2009 estimate of $971.4 billion.

During the first four months of this year, construction spending amounted to $249.6 billion, 13.2 percent (±1.1%) below the $287.5 billion for the same period in 2009. 

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $565.8 billion, 2.9 percent (±1.1%) above the  revised March estimate of $549.7 billion. Residential construction was at a seasonally adjusted annual rate of $263.0  billion in April, 4.4 percent (±1.3%) above the revised March estimate of $251.9 billion. Nonresidential construction was  at a seasonally adjusted annual rate of $302.7 billion in April, 1.7 percent (±1.1%) above the revised March estimate of
$297.8 billion.

Public Construction

In April, the estimated seasonally adjusted annual rate of public construction spending was $303.3 billion, 2.4 percent  (±2.1%) above the revised March estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual  rate of $74.7 billion, 0.4 percent (±3.2%) above the revised March estimate of $74.4 billion. Highway construction was  at a seasonally adjusted annual rate of $84.3 billion, 3.6 percent (±7.5%) above the revised March estimate of  $81.3 billion.

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