The U.S. Department of Commerce recently released its estimate of construction spending for April 2015. The annual rate of construction spending is projected to top $1 trillion for the year, the highest level of spending since the 2008 financial crisis and resulting economic downturn.
Construction spending increased 2.2% in April. Private nonresidential construction increased 3.1% while public construction increased 3.3%.
These are seasonally adjusted numbers and commonly used, though I prefer actual spending figures. But these numbers are looking good too. Total year to date private nonresidential construction spending as of April 2015 is 8.7% higher than the same time last year; 2.7% for public nonresidential construction.
Click here to see the figures.
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