The US Census Bureau announced that construction spending during April 2017 was estimated at a seasonally adjusted annual rate of $1,218.5 billion, 1.4 percent (±1.0 percent) below the revised March estimate of $1,235.5 billion. The April figure is 6.7 percent (±1.5 percent) above the April 2016 estimate of $1,142.5 billion.
During the first 4 months of this year, construction spending amounted to $359.5 billion, 5.8 percent (±1.3 percent) above the $339.7 billion for the same period in 2016.
Spending on private construction was at a seasonally adjusted annual rate of $943.3 billion, 0.7 percent (± 0.8 percent) below the revised March estimate of $949.7 billion. Residential construction was at a seasonally adjusted annual rate of $516.7 billion in April, 0.7 percent (±1.3 percent) below the revised March estimate of $520.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6 percent (± 0.8 percent) below the revised March estimate of $429.3 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $275.3 billion, 3.7 percent (±2.0 percent) below the revised March estimate of $285.9 billion. Educational construction was at a seasonally adjusted annual rate of $70.7 billion, 2.0 percent (±2.6 percent) below the revised March estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $89.5 billion, 3.7 percent (±5.8 percent) below the revised March estimate of $93.0 billion.