April construction spending leaps 10.9% YOY
The April figure is 10.0% (±1.5%) above the April 2023 estimate of $1,907.8 billion. During the first four months of this year, construction spending amounted to $635.5 billion, 10.9% (±1.2%) above the $573.0 billion for the same period in 2023.
Spending on private construction was at a seasonally adjusted annual rate of $1,611.9 billion, 0.1% (±0.7%) below the revised March estimate of $1,613.3 billion. Residential construction was at a seasonally adjusted annual rate of $890.4 billion in April, 0.1% (±1.3%) above the revised March estimate of $889.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $721.5 billion in April, 0.3% (±0.7%* below the revised March estimate of $723.8 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $487.1 billion, 0.2% (±2.1%) below the revised March estimate of $488.2 billion. Educational construction was at a seasonally adjusted annual rate of $103.5 billion, 0.2% (±2.1%) below the revised March estimate of $103.6 billion.
Highway construction was at a seasonally adjusted annual rate of $149.6 billion, 0.5% (±6.7%) below the revised March estimate of $150.4 billion.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Singer Industrial. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Rachael Radford, as well as interviews with numerous product and distribution industry experts.
