Monday, June 2, 2014

Construction Spending Increased 0.2% in April

Construction spending grew modestly in April, increasing 0.2%. April’s level is 8.6% above its level one year ago. The report included positive revisions to the previous two months. Private residential construction and government construction both contributed to the gains.

Private construction spending growth was driven by private residential construction, which increased 0.1% and 16% from year ago levels. Private non-residential construction declined 0.1% from the month prior, but is still 5.6% above year ago levels. Transportation construction saw the largest decline, dropping 11.7% over the month of April.

Government spending improved 0.8%, and is up 1.2% from April 2013. April’s public sector recovery indicates that as the economy improves, local government spending does as well.

Read the Census report.

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