Construction + Economy

April 2009 Construction at $968.7 Billion Annual Rate After Marginal Gain

Craig DiLouie June 15, 2009

The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during April 2009 was estimated at a seasonally adjusted annual rate of $968.7 billion, 0.8% (±1.3%) above the revised March estimate of $961.3 billion and 10.7% (±1.8%) 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% (±1.4%) below the $322.8 billion for the same period in 2008.

Nonresidential construction continues to show resilience. In April, total nonresidential spending was about $712.3 billion, about 1% higher than the revised March figure and 3% higher than the same period a year earlier. Public nonresidential construction was about $304.1 billion, about 0.5% less than March but 3% higher than a year earlier. And private nonresidential construction was about $408.2 billion, nearly 2% higher than March and 2% higher than the same period a year earlier.

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