Construction Spending Up In April

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WASHINGTON (UPI) — Construction spending rose month-to-month in April, the U.S. Census Bureau reported Friday.

Total construction spending reached a seasonally adjusted annual rate of $820.7 billion, up 0.3 percent from the revised estimate of $818.1 billion in March, the bureau said.

Spending for April was 6.8 percent above April 2011, when $768.2 billion was spent on construction projects on a seasonally adjusted annual basis.

Spending on private construction was at a seasonally adjusted annual rate of $549.7 billion, 1.2 percent above March’s revised estimate of $543.4 billion, the Census Bureau said.

The report said residential construction was at a seasonally adjusted annual rate of $256.1 billion in April, a 2.8 percent jump from March’s revised figure of $249.1 billion.

Non-residential construction was at a seasonally adjusted annual rate of $293.6 billion in April, 0.2 percent below the $294.3 billion spent in March — also a revised figure.

The estimated seasonally adjusted annual rate of public construction spending in February was $271 billion, 1.4 percent below the revised March estimate of $274.7 billion, the Census Bureau said.

Educational construction was at a seasonally adjusted annual rate of $68.3 billion, 0.9 percent below the revised March estimate of $68.9 billion, the bureau said. Highway construction was at a seasonally adjusted annual rate of $77.3 billion, 0.4 percent above the revised March estimate of $77 billion.

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