Construction Spending Rises in April
Construction spending rose 0.3 percent in April to a seasonally adjusted annual rate of $820.7 billion compared with March’s estimate of $818.1 billion, according to the U.S. Census Bureau of the Dept. of Commerce. The April figure is 6.8 percent above the April 2011 estimate of $768.2 billion.
During the first four months of this year, construction spending amounted to $238.5 billion, 7.3 percent above the $222.2 billion for the same period in 2011.
Residential construction was at a seasonally adjusted annual rate of $256.1 billion in April, 2.8 percent above the revised March estimate of $249.1 billion.