The U.S. Census Bureau is reporting that total construction spending in April was estimated at a seasonally adjusted annual rate of $1.3 trillion, which is 1.8% above March’s revised estimate. During the first four months of 2018, construction spending amounted to $387 billion, which was 6.6% higher than the same period in 2017. In addition, residential construction was at a seasonally adjusted annual rate of $556.3 billion in April (4.5% higher than March) and nonresidential construction was at a seasonally adjusted annual rate of $458.0 billion in April (0.8% higher than March).
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