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April Construction Spending Still Besting 2019 Numbers
Tuesday, June 2, 2020
Overall spending
on construction fell in April, down 2.9 percent to a seasonally adjusted annual
rate of $1.346 trillion from 1.387 trillion. This still left the rate 3.0
percent higher than it was in April 2019. On a non-adjusted
basis, spending was $110.492 billion compared to $107.758 billion in March
and 106,786 the previous April. Thus far
in 2020, spending has totaled $412.465 billion, a 7.1 percent increase from the
year-to-date (YTD) spending in 2019. Privately funded
construction was at an annual rate of $1.004 trillion, down 3.0 percent from
the $1.036 trillion rate in March, but still up 3.8 percent from the expenditures
a year earlier. On an unadjusted basis spending was a tad higher than in March,
$83.865 billion compared to $83.654 billion, At $318.110 billion, however,
spending was significantly higher for the YTD, up 6.8 percent, than the
$297.850 billion expended during the first four months of 2019.
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