Department of Commerce Reports Mild Dip in April Construction to $765 Billion

June 10, 2011
Construction spending during April 2011 was estimated at a seasonally adjusted annual rate of $765 billion, 0.4 percent above the revised March estimate of $762.1 billion

Construction spending during April 2011 was estimated at a seasonally adjusted annual rate of $765 billion, 0.4 percent above the revised March estimate of $762.1 billion, according to the U.S. Census Bureau of the Department of Commerce. The April figure is 9.3 percent below the April 2010 estimate of $843.1 billion. During the first four months of this year, construction spending amounted to $222.7 billion, 8.4 percent below the $243 billion for the same period in 2010.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $483 billion, 1.7 percent above the revised March estimate of $474.7 billion. Residential construction was at a seasonally adjusted annual rate of $232.1 billion in April, 3.1 percent above the revised March estimate of $225.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $250.8 billion in April, 0.5 percent above the revised March estimate of $249.6 billion. Private office construction took another hit in April, sliding 3.2 percent to $21.6 billion. Year-to-year, private office construction is down 14 percent from April 2010.

Public construction. In April, the estimated seasonally adjusted annual rate of public construction spending was $282 billion, 1.9 percent below the revised March estimate of $287.4 billion. Educational construction was at a seasonally adjusted annual rate of $67.3 billion, 2.7 percent below the revised March estimate of $69.2 billion. Public construction of education buildings dropped 2.7 percent to $67.3 billion in April and is down 8.6 percent from April 2010. On the plus side, construction of public health care buildings increased 4.4 percent in April to $10.7 billion.