Construction spending grew in April
Construction spending during April 2021 was estimated at a seasonally adjusted annual rate of $1,524.2 billion, 0.2 percent above the revised March estimate of $1,521.0 billion.
The April figure is 9.8 percent above the April 2020 estimate of $1,387.9 billion. During the first four months of this year, construction spending amounted to $452.3 billion, 5.8 percent above the $427.3 billion for the same period in 2020.
Spending on private construction was at a seasonally adjusted annual rate of $1,180.7 billion, 0.4 percent above the revised March estimate of $1,175.4 billion. Residential construction was 1.0 percent above March. Nonresidential construction was 0.5 percent below March.
Public construction spending was $343.5 billion, 0.6 percent below the revised March estimate of $345.6 billion. Educational construction was 0.5 percent below March. Highway construction was 0.6 percent above March.