The US Census Bureau announced that construction spending during April 2020 was estimated at a seasonally adjusted annual rate of $1,346.2 billion, 2.9 percent (±0.8 percent) below the revised March estimate of $1,386.6 billion. The April figure is 3.0 percent (±1.5 percent) above the April 2019 estimate of $1,307.1 billion.
During the first four months of this year, construction spending amounted to $412.5 billion, 7.1 percent (±1.2 percent) above the $385.2 billion for the same period in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,004.1 billion, 3.0 percent (±0.7 percent) below the revised March estimate of $1,035.6 billion. Residential construction was at a seasonally adjusted annual rate of $536.8 billion in April, 4.5 percent (±1.3 percent) below the revised March estimate of $561.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $467.3 billion in April, 1.3 percent (±0.7 percent) below the revised March estimate of $473.6 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $342.1 billion, 2.5 percent (±1.5 percent) below the revised March estimate of $351.0 billion. Educational construction was at a seasonally adjusted annual rate of $78.6 billion, 2.3 percent (±1.5 percent) below the revised March estimate of $80.4 billion. Highway construction was at a seasonally adjusted annual rate of $106.1 billion, 5.2 percent (±4.6 percent) below the revised March estimate of $111.9 billion.