The US Census Bureau announced today that construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as (±1.3 percent) the revised March estimate of $1,299.2 billion. The April figure is 1.2 percent (±1.5 percent) below the April 2018 estimate of $1,314.7 billion.
During the first four months of this year, construction spending amounted to $386.1 billion, 0.2 percent (±1.3 percent) above the $385.5 billion for the same period in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $954.0 billion, 1.7 percent (±1.0 percent) below the revised March estimate of $970.4 billion. Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, 0.6 percent (±1.3 percent) below the revised March estimate of $502.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in April, 2.9 percent (±1.0 percent) below the revised March estimate of $468.0 billion.
In April, the estimated seasonally adjusted annual rate of public construction spending was $344.6 billion, 4.8 percent (±2.5 percent) above the revised March estimate of $328.7 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 2.1 percent (±2.6 percent) above the revised March estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $114.3 billion, 6.8 percent (±8.6 percent) above the revised March estimate of $107.0 billion.