News Column

Construction Spending Continues to Rise

June 3, 2013
Construction project

Construction spending rose slightly March to April, the U.S. Census Bureau News reported Monday.

Total construction spending in March was revised higher to $857.7 billion from $856.7 billion. In April spending rose to $860.8 billion, a 0.4 percent increase, the bureau said.

In April, spending on private-sector projects totaled $602 billion, 1 percent above March's revised estimate of $595.9 billion.

In the month, $301.9 billion was spent on residential projects, a 0.1 percent decline from March. Private spending on commercial projects came to $300.1 billion in April, 2.2 percent more than the March estimate of $293.7 billion.

The estimated seasonally adjusted annual rate of public construction spending in April was $258.8 billion, 1.2 percent less than the revised March estimate of $261.8 billion.

Educational construction was at a seasonally adjusted annual rate of $58.7 billion, down 4.4 percent from March while highway construction was at a seasonally adjusted annual rate of $76.7 billion, up 0.5 percent from March.



Source: Copyright UPI 2013


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