Construction spending in the United States recorded $1.9 trillion in April, up by 1.2% compared to the previous month's revised figure, the US Census Bureau revealed in a report on Thursday. On an annual basis, the figure was 7.2% higher.
Spending on private construction came to $1.5 trillion, rising by 1.3% in comparison to the reading in March. Residential construction climbed by 0.5% to $845 billion in April, while nonresidential construction rose 0.7% to $601 billion. Public construction came in at $655 billion, which is 2.4% higher in comparison to the last month's figure.
Construction expenditure reached $567 billion in the first four months of this year, an increase of 6.1% from the same period in 2022.
