Construction spending fell 1.8% in April to $1,113.9 billion (SAAR). March’s spending estimate was revised up to $1,155.1 billion. During the first four months of the year, construction spending amounted to $334.8 billion, 8.7% higher than in the first four months of 2015.
Total private construction fell to a rate of $843.1 billion, 1.5% below the revised March estimate of $855.9 billion.
Private residential construction fell 1.5% to a seasonally adjusted annual rate of $439.7 billion.
Private nonresidential construction fell 1.5% to a rate of $403.5 billion, falling broadly across most categories.
Public construction fell 2.8% to a rate of $299.2 billion, in large part due to a 6.6% decline in highway and street construction.
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