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U.S. Construction Spending inches up 1.5 Percent In April

Rate of $953.5 billion is the highest level since March 2009.


The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2014 was estimated at a seasonally adjusted annual rate of $953.5 billion, 0.2 percent (±1.5%)* above the revised March estimate of $951.6 billion.

The April figure is 8.6 percent (±2.0%) above the April 2013 estimate of $878.4 billion.

During the first 4 months of this year, construction spending amounted to $274.5 billion, 8.9 percent (±1.5%) above the $252.1 billion for the same period in 2013.

PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $686.5 billion, nearly the same as (±1.2%)* the revised March estimate of $686.8 billion.

Residential construction was at a seasonally adjusted annual rate of $378.5 billion in April, 0.1 percent (±1.3%)* above the revised March estimate of $378.3 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $308.0 billion in April, 0.1 percent (±1.2%)* below the revised March estimate of $308.5 billion.

PUBLIC CONSTRUCTION
In April, the estimated seasonally adjusted annual rate of public construction spending was $267.0 billion, 0.8 percent (±2.8%)* above the revised March estimate of $264.8 billion.

Educational construction was at a seasonally adjusted annual rate of $62.6 billion, 3.0 percent (±4.4%)* above the revised March estimate of $60.8 billion.

Highway construction was at a seasonally adjusted annual rate of $81.3 billion, 1.1 percent (±8.1%)* below the revised March estimate of $82.2 billion.

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