The U.S. Census Bureau of the Department of Commerce announced on Monday June 1st that construction spending during April 2009 was estimated at a seasonally adjusted annual rate of $968.7 billion, 0.8 percent above the revised March estimate of $961.3 billion. The April figure is 10.7 percent below the April 2008 estimate of $1,085.2 billion.

During the first 4 months of this year, construction spending amounted to $286.3 billion, 11.3 percent below the $322.8 billion for the same period in 2008.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $657.3 billion, 1.4 percent above the revised March estimate of $648.2 billion. Residential construction was at a seasonally adjusted annual rate of $249.2 billion in April, 0.7 percent above the revised March estimate of $247.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $408.2 billion in April, 1.8 percent above the revised March estimate of $400.8 billion.

Public Construction

In April, the estimated seasonally adjusted annual rate of public construction spending was $311.4 billion, 0.6 percent below the revised March estimate of $313.2 billion. Educational construction was at a seasonally adjusted annual rate of $89.1 billion, 1.8 percent below the revised March estimate of $90.7 billion. Highway construction was at a seasonally adjusted annual rate of $79.0 billion, 0.9 percent above the revised March
estimate of $78.3 billion.

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Source: U.S. Census Bureau News, June 1, 2009