US construction spending rises 0.4% in April from revised March estimate, 4.3% year-over-year to seasonally adjusted annual rate of US$860.8M: US Dept. of Commerce

WASHINGTON , June 3, 2013 (press release) – The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2013 was estimated at a seasonally adjusted annual rate of $860.8 billion, 0.4 percent (±1.6%)* above the revised March estimate of $857.7 billion. The April figure is 4.3 percent (±2.0%) above the April 2012 estimate of $825.1 billion.

During the first 4 months of this year, construction spending amounted to $250.7 billion, 4.5 percent (±1.5%) above the $239.8 billion for the same period in 2012.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $602.0 billion, 1.0 percent (±1.2%)* above the revised March estimate of $595.9 billion. Residential construction was at a seasonally adjusted annual rate of $301.9 billion in April, 0.1 percent (±1.3%)* below the revised March estimate of $302.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $300.1 billion in April, 2.2 percent (±1.2%) above the revised March estimate of $293.7 billion.

PUBLIC CONSTRUCTION

In April, the estimated seasonally adjusted annual rate of public construction spending was $258.8 billion, 1.2 percent (±2.8%)* below the revised March estimate of $261.8 billion. Educational construction was at a seasonally adjusted annual rate of $58.7 billion, 4.4 percent (±4.4%)* below the revised March estimate of $61.4 billion. Highway construction was at a seasonally adjusted annual rate of $76.7 billion, 0.5 percent (±9.9%)* above the revised March estimate of $76.2 billion.

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