US construction spending estimated at US953.5 billion in April 2014

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

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

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

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