Monday, June 1, 2015

Construction Spending Reaches $1 trillion (SAAR)

Construction spending increased 2.2% in April to a seasonally adjusted annual rate (SAAR) of $1,006.1 billion. March spending was revised up from $967.2 billion to $984.0 billion. Construction spending during the first four months of 2015 amounted to $288.7 billion, 4.1% higher than the first four months of 2014.

Total private construction rose to $725.2 billion (SAAR), 1.8% higher than the revised March estimate of $712.1 billion.

Private residential construction rose to $353.1 billion (SAAR), 0.6% above March’s estimate, as both construction of single and multi-family homes rose for the month. For the year, private residential construction declined 2.1%.

Private non-residential construction increased by 3.1%, with lodging construction posting the most notable gains. Construction related to communication infrastructure was the only non-residential segment to post a decline.

Public construction rose 3.3%, despite an 8.9% decline in the commercial public construction segment and a 15% decline in the power public construction segment. Public construction increased 3.5% for the year.

Read the Census release

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