The U.S. Department of Commerce is reporting that total construction spending in April was estimated at a seasonally adjusted annual rate of $1,218 trillion, which is 6.7% higher than April 2016. Private residential construction was at a seasonally adjusted annual rate of $943.3 billion in April, 0.7% below March’s number. Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6% below March’s estimate.
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