Total Construction
Construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1 percent (±1.0 percent)* below the revised March estimate of $2,101.5 billion. The April figure is 10.0 percent (±1.5 percent) above the April 2023 estimate of $1,907.8 billion. During the first four months of this year, construction spending amounted to $635.5 billion, 10.9 percent (±1.2 percent) above the $573.0 billion for the same period in 2023.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,611.9 billion, 0.1 percent (±0.7 percent)* below the revised March estimate of $1,613.3 billion. Residential construction was at a seasonally adjusted annual rate of $890.4 billion in April, 0.1 percent (±1.3 percent)* above the revised March estimate of $889.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $721.5 billion in April, 0.3 percent (±0.7 percent)* below the revised March estimate of $723.8 billion.
Public Construction
In April, the estimated seasonally adjusted annual rate of public construction spending was $487.1 billion, 0.2 percent (±2.1 percent)* below the revised March estimate of $488.2 billion. Educational construction was at a seasonally adjusted annual rate of $103.5 billion, 0.2 percent (±2.1 percent)* below the revised March estimate of $103.6 billion. Highway construction was at a seasonally adjusted annual rate of $149.6 billion, 0.5 percent (±6.7 percent)* below the revised March estimate of $150.4 billion.
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