U.S. Construction Spending Up Month-Over-Month and Year-Over-Year in April

The U.S. Census Bureau is reporting that total construction spending during April 2021 was estimated at a seasonally adjusted annual rate (SAAR) of $1,524.2 billion, 0.2% above the revised March estimate of $1,521.0 billion. The April figure is 9.8% above the April 2020 estimate of $1,387.9 billion. During the first four months of this year, construction spending amounted to $452.3 billion, 5.8% above the $427.3 billion for the same period in 2020. Private construction spending was at a SAAR of $1,180.7 billion, 0.4% above the revised March estimate of $1,175.4 billion. Residential construction was at a SAAR of $729.2 billion in April, 1.0% above the revised March estimate of $721.8 billion. Nonresidential construction was at a SAAR of $451.4 billion in April, -0.5% below the revised March estimate of $453.7 billion. In April the estimated SAAR of public construction spending was $343.5 billion which was -0.6% below the revised March estimate of $345.6 billion. Educational construction was SAAR -0.5% below the revised March estimate. Highway construction was 0.6% above the revised March estimate.