The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during April 2009 was estimated at a seasonally adjusted annual rate of $968.7 billion, 0.8% (±1.3%) above the revised March estimate of $961.3 billion and 10.7% (±1.8%) below the April 2008 estimate of $1,085.2 billion.
During the first 4 months of this year, construction spending amounted to $286.3 billion, 11.3% (±1.4%) below the $322.8 billion for the same period in 2008.
Nonresidential construction continues to show resilience. In April, total nonresidential spending was about $712.3 billion, about 1% higher than the revised March figure and 3% higher than the same period a year earlier. Public nonresidential construction was about $304.1 billion, about 0.5% less than March but 3% higher than a year earlier. And private nonresidential construction was about $408.2 billion, nearly 2% higher than March and 2% higher than the same period a year earlier.
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