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Tuesday, June 1, 2010

Construction Spending Up 2.7% Led by Residential

In April, new construction spending surged upward by 2.7%. The increase was primarily driven by a 4.4% increase in residential construction spending. The residential component has been very volatile in recent months; however, it is up 4.2% from a year prior.

Though residential spending led the increase, private non-residential spending also rose 1.7%. This was the first monthly increase since March 2009. Despite the rise, from a year prior non-residential spending was down 24.6%.

Public sector spending rose for the second straight month, increasing by 2.4%. However, from a year prior, it was down 4.4%.


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