US construction spending
Data released by the US Census Bureau of the Department of Commerce indicates that construction spending reached an estimated US$953.5 billion in April 2014 (at a seasonally adjusted annual rate). This is 8.6% higher than the estimated figure of US$878.4 billion in April 2013 and 0.2% greater than the revised March 2014 estimate of US$951.6 billion.
Private construction spending was in line with March 2014, at US$686.5 billion. Residential construction is estimated at US$378.5 billion, up 0.1% on March on a seasonally adjusted annual rate basis. However, nonresidential construction spending is estimated to be 1% below the March figure, down from US$308.5 billion to US$308 billion.
Public construction spending is estimated to have risen by 0.8% m/m to US$267 billion in April 2014. Within this, educational construction is estimated at US$62.6 billion and highway construction at US$81.3 billion, suggesting a +3% and -1.1% difference when compared with March estimates, respectively.
Adapted from US Census Bureau Data by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/03062014/construction_spending_rises_in_the_us__april_2014_290/