Construction Spending Strengthens in April

U.S. construction spending in April was estimated at a seasonally adjusted annual rate of $1.9 trillion, up 1.2% from March and 7.2% higher than March 2022. Year-to-date construction spending increased 6.1% to $566.7 billion compared to the same period in 2022.

Private construction spending was $1.5 trillion, climbing 1.3% from March. Residential totals were $845.4 billion in April, 0.5% higher than the previous month. Non-residential totals rose 2.4% from March to $655.3 billion. See U.S. Census Bureau

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