The U.S. government is reporting that total construction spending in April was at a seasonally adjusted annual rate of $1,346.2 billion, which is 2.9% higher than March’s revised estimate. However, April’s figure was 3% higher than April, 2019. Residential construction was at a seasonally adjusted annual rate of $536.8 billion in April, which is 4.5% lower than March’s revised estimate.
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