Construction spending rises in April

Construction spending rises in April

Construction spending during April rose 0.4 percent to a seasonally adjusted annual rate of $765 billion compared with March’s estimate of $762.1 billion, but was 9.3 percent below the April 2010 estimate of $843.1 billion, according to the U.S. Census Bureau of the Dept. of Commerce.

Residential construction was at a seasonally adjusted annual rate of $232.1 billion in April, 3.1 percent above the revised March estimate of $225.1 billion.

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