The US Census Bureau of the Department of Commerce announced Monday that construction spending during April 2014 was estimated at a seasonally adjusted annual rate of $953.5 billion, 0.2 percent (±1.5 percent) above the revised March estimate of $951.6 billion. The April figure is 8.6 percent (±2.0 percent) above the April 2013 estimate of $878.4 billion.
During the first four months of this year, construction spending amounted to $274.5 billion, 8.9 percent (±1.5 percent) above the $252.1 billion for the same period in 2013.
Spending on private construction was at a seasonally adjusted annual rate of $686.5 billion, nearly the same as (±1.2 percent) 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 percent) 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 percent) below the revised March estimate of $308.5 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $267.0 billion, 0.8 percent (±2.8 percent) 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 percent) 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 percent) below the revised March estimate of $82.2 billion.