June 01, 2021
During April 2021, construction spending rose at an estimated seasonally adjusted annual rate of 0.2% (±0.8%) to $1,524.2 billion above the revised March estimate of $1,521.0 billion, reported by US Census Bureau. This April figure is 9.8% (±1.2%) above the April 2020 estimate of $1,387.9 billion.
Private Construction
According to US Census Bureau, “spending on private construction was at a seasonally adjusted annual rate of $1,180.7 billion, 0.4 percent (±0.7 percent) above the revised March estimate of $1,175.4 billion. Residential construction was at a seasonally adjusted annual rate of $729.2 billion in April, 1.0 percent (±1.3 percent) above the revised March estimate of $721.8 billion.” Meanwhile, on a seasonally adjusted basis, nonresidential construction was at an annual rate of $451.4 billion in April, a 0.5% (±0.7%) downward revision to the March estimate of $453.7 billion.
Public Construction
The projected seasonally adjusted annual rate of public construction spending in April was $343.5 billion, 0.6% (±1.6%) lower than the updated $345.6 billion March estimate. Educational construction was at a seasonally adjusted annual rate of $84.8 billion, 0.5% (±1.8%) under the updated March forecast of $85.2 billion. Whereas highway construction was $99.8 billion, 0.6% (±5.6%) above the updated March forecast of $99.2 billion, at a seasonally adjusted annual rate.
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