Construction spending in April was estimated at a seasonally adjusted annual rate of more than $1 trillion ($1,006.1 bilion), which is 2.2 percent above the revised March estimate of $984 billion and 4.8 percent above the April 2014 estimate of $960.3 billion, according to the U.S. Census Bureau.
In the first four months of 2015, construction spending totaled $288.7 billion. This is 4.1 percent higher than the $277.3 billion in the same period last year.
Private construction was at a seasonally adjusted annual rate of $725.2 billion in April 2015, 1.8 percent higher than the March estimate of $712.1 billion.
Residential construction was at a seasonally adjusted annual rate of $353.1 billion, 0.6 percent higher than the $351.1 billion in March. Nonresidential construction was at $372.1 billion, 3.1 percent above March’s $361 billion.
Public construction in April was at a seasonally adjusted annual rate of $280.9 billion, 3.3 percent above the March estimate of $271.9 billion.
