Construction Up 2.7 Percent over March as Private and Public Sectors Gain Ground

The U.S. Census Bureau of the Department of Commerce announced that construction spending during April 2010 was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7 percent above the revised March estimate of $845.9 billion. The April figure is 10.5 percent below the April 2009 estimate of $971.4 billion. During the first four months of this year, construction spending amounted to $249.6 billion, 13.2 percent below the $287.5 billion for the same period in 2009.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $565.8 billion, 2.9 percent above the revised March estimate of $549.7 billion. Residential construction was at a seasonally adjusted annual rate of $263.0 billion in April, 4.4 percent above the revised March estimate of $251.9 billion. Nonresidential construction was at a seasonally adjusted annual rate of $302.7 billion in April, 1.7 percent above the revised March estimate of $297.8 billion.

Public construction. In April, the estimated seasonally adjusted annual rate of public construction spending was $303.3 billion, 2.4 percent above the revised March estimate of $296.2 billion. Educational construction was at a seasonally adjusted annual rate of $74.7 billion, 0.4 percent above the revised March estimate of $74.4 billion.