Construction Spending Rebounds in April as Stimulus, Residential Drive Demand
Construction spending rebounded strongly in April, with an increase of 2.7% or $23 billion from March to a seasonally adjusted annual rate of $869 billion according to the latest analysis of federal spending figures released by the Associated General Contractors of America.
The association notes that the gains were primarily driven by private residential construction (up 4.4%) and public construction (up 2.4%), but that private nonresidential also increased significantly (up 1.7%).