April 2010 Construction Increases to $869.1 Billion Annual Rate

Construction spending during April 2010 was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7%% above the revised March 2010 estimate of $845.9 billion and 10.5% below the April 2009 estimate of $971.4 billion, according to new Commerce Department figures. (Note these are estimates and subject to change over the next several months.)

Private residential spending increased 4.4% from $251.9 billion in March 2010 to $263.1 billion in April 2010, which in turn was 4.1% higher than April 2009, when spending was estimated at $252.7 billion.

Nonresidential construction increased 2% from an estimated $585.4 billion in March 2010 to $596.9 billion in April 2010, which in turn was 16.1% lower than April 2009, when spending was estimated at $711.1 billion. Private nonresidential construction increased 1.7% from $297.8 billion in March 2010 to $302.7 billion in April 2010, which in turn was 24.6% lower than April 2009, when spending was estimated at $401.5 billion. Public nonresidential construction increased 2.3% from $287.6 billion in March 2010 to $294.2 billion in April 2010, which in turn was 5% lower than April 2009, when spending was estimated at 309.6 billion.

Craig DiLouie

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