Residential construction rises in April
Figures released by the U.S. Commerce Department put overall construction spending during April 2012 at $820.7 billion, a 0.3% rise over the adjusted figures for construction spending in March 2012.
Spending on private construction was reported at $549.7 billion, 1.2% above the revised March estimate of $543.4 billion. Residential construction saw some of the biggest gains at $256.1 billion during April 2012, a 2.8% increase over the previous month.
Non-residential construction was at a seasonally adjusted annual rate of $293.6 billion in April, 0.2% below the revised March estimates.
In public construction, the estimated annual rate of spending was $271.0 billion, 1.4% below the revised March estimate. Educational construction was almost flat at 0.9 %. Highway construction was at a seasonally adjusted annual rate of $77.3 billion, or 0.4% above the revised March estimate of $77.0 billion.