U.S. Construction Spending Rises 12.3% Year-Over-Year and 0.2% Month-Over-Month in April 2022

On Wednesday (6-1-22), the U.S. Census Bureau reported that total construction spending during April 2022 was estimated at a seasonally adjusted annual rate (SAAR) of $1,744.8 billion, 0.2% above the revised March estimate of $1,740.6 billion. The April figure is 12.3% above the April 2021 estimate of $1,5553.5 billion.

During the first four months of this year, construction spending amounted to $520.8 billion, 12.4% above the $463.3 billion for the same period in 2021.

Private construction spending was at a SAAR of $1,394.7 billion, 0.5% above the revised March estimate of $1,387.9 billion. Residential construction was at a SAAR of $891.5 billion in April, 0.9% above the revised March estimate of $883.5 billion. Nonresidential construction was at a SAAR of $503.2 billion, -0.2% below the revised March estimate of $504.4 billion.

In April, the estimated SAAR of public construction spending was $350.1 billion, -0.7% below the revised March estimate of $352.7 billion. Educational construction was at a SAAR of $79.6 billion in April, -0.7% below the revised March estimate of $80.1 billion. Highway construction was at a SAAR of $103.4 billion, -0.1% below the March estimate of $103.5 billion.