Construction spending during April was estimated at a seasonally adjusted annual rate of $1,524.2 billion, 0.2% above the March 2020 estimate of $1,521 billion, but 9.8% above the April 2020 estimate of $1,387.9 billion, according to the U.S. Census Bureau.
During the first four months of this year, construction spending amounted to $452.3 billion, 5.8% 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% above the revised March estimate of $1,175.4 billion. Residential construction was at a seasonally adjusted annual rate of $729.2 billion in April, 1% above the revised March estimate of $721.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $451.4 billion in April, 0.5% below the revised March estimate of $453.7 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $343.5 billion, 0.6% below the revised March estimate of $345.6 billion. Educational construction was at a seasonally adjusted annual rate of $84.8 billion, 0.5% below the revised March estimate of $85.2 billion. Highway construction was at a seasonally adjusted annual rate of $99.8 billion, which was 0.6% above the revised March estimate of $99.2 billion.
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