Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose to $602.0 billion in April, a 1.0 percent increase from the upwardly revised March estimate of $595.9 billion. April’s results are 9.0 percent higher year-over-year. Residential construction spending fell 0.1 percent over the month, to $301.9 billion. New multifamily construction spending rose 3.4 percent in April and is up 48.6 percent year-over-year. New single-family construction posted a monthly gain of 1.4 percent and is up 38.6 percent since last April. Private nonresidential construction spending was at $300.1 billion, 2.2 percent above the downwardly revised March estimate of $293.7 billion. The manufacturing, office, communication, and religious sectors all registered declines over the month. The religious sector had the largest decline of 11.5 percent and is down 9.5 percent year-over-year. The power sector posted the largest monthly increase of 10.8 percent but is still down 2.8 percent year-over-year.