Construction Spending Rises in April


  • Total construction spending rose 0.2% in April, below the consensus forecast of a 0.5% rise. This follows a 0.3% gain in March which was revised up from 0.1%. Total spending has grown 12.3% year-over-year.
  • Overall private spending increased 0.5% over the month, but a 0.7% decline in public spending took some of the wind out of the sails for total spending.
  • Residential spending stayed positive with a 0.9% gain, up from 0.7% in March. Single-family spending increased 0.5% and home improvement outlays grew 1.5%. Multifamily gained 0.8% over the month.
  • Total nonresidential spending fell 0.4%, the second consecutive monthly decline. Within total nonresidential, private and public spending fell 0.2% and 0.7%, respectively.
  • Most nonresidential sectors saw spending decline with health care (-1.6%), power (-1.5%), transportation (-1.5%), commercial (-0.4%), educational (-0.4%) and highway & street (-0.2%) spending falling in April.
  • Sectors that saw growth were manufacturing (+1.7%), office (+1.2%), amusement & recreation (+1.1%) and communication (+0.3%).