Construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as the revised March estimate of $1,299.2 billion. The U.S. Census Bureau said the April figure is -1.2% below the April 2018 estimate of $1,314.7 billion. During the first four months of this year, construction spending amounted to $386.1 billion, +0.2% above the $385.5 billion for the same period in 2018.
Private construction. Spending on private construction was at a seasonally adjusted annual rate of $954 billion, -1.7% below the revised March estimate of $970.4 billion. Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, -0.6% percent below the revised March estimate of $502.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in April, -2.9% below the revised March 2019 estimate of $468.0 billion.
Public construction. In April, the estimated seasonally adjusted annual rate of public construction spending was $344.6 billion, +4.8% above the revised March estimate of $328.7 billion. Educational construction, which in recent years was sluggish at best, was at a seasonally adjusted annual rate of $80.0 billion, +2.1% above the revised March estimate of $78.3 billion.
Transportation spending also saw increases on both a month-to-month (+4.9%)and year-over-year (+8.8%) basis, with the construction of air passenger terminals showing a +3.6% increase to $10.97 billion, a +13.1% YOY increase.
