Spending on U.S. construction projects rose 0.4 percent in April compared to March, the U.S. Commerce Department reported on June 3. The April figure is 4.3 percent higher than what the department estimates was spent in the year-ago period. During the first four months of 2013, national construction spending totaled $250.7 billion, up 4.5 percent […]
Spending on U.S. construction projects rose 0.4 percent in April compared to March, the U.S. Commerce Department reported on June 3. The April figure is 4.3 percent higher than what the department estimates was spent in the year-ago period.
During the first four months of 2013, national construction spending totaled $250.7 billion, up 4.5 percent from $239.8 billion for the same period in 2012, according to the Commerce Department report.
The increase in construction spending in April, compared to March, was led by a 2.2 percent rise in private nonresidential construction. Spending on construction of power facilities increased 10.8 percent in April from March. Spending on amusement and recreation projects rose 3.5 percent in the same period, according to the report.
Spending on lodging construction projects increased 0.2 percent in April compared to March, but surged 20.7 percent from April 2012 levels, according to the Commerce Department. That was the biggest year-over-year increase in any private industry.
Residential construction spending dipped 0.1 percent in April compared to March, but was up 18.8 percent from April 2012, the Commerce Department reported.
Total private construction spending increased 1 percent in April from the prior month and rose 9 percent from the year-ago period, according to the report. Meanwhile, total public construction spending slipped 1.2 percent in April from March and fell 5.1 percent from April 2012.
Contact Rombel at arombel@cnybj.com
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