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June 01, 2023US CONSTRUCTION SPENDING, APRIL 2023 Month over month (April 2023 vs March 2023, seasonally adjusted annual rate)
US construction spending increased 1.2% to $1,908.4 billion. Total residential construction increased 0.4% to $855.2 billion. Total non-residential construction spending increased 1.9% to $1,053.2 billion.
Private sector construction increased 1.3% to $1,500.7 billion. Private residential construction increased 0.5% to $845.4 billion, while private non-residential construction spending increased 2.4% to $655.3 billion.
Public sector construction increased 1.1% to $407.7 billion. Public residential construction declined 1.0% to $9.8 billion, while public non-residential construction spending increased 1.1% to $397.9 billion.
Year over year (April 2023 vs April 2022)
US construction spending was up 7.2%
- Total residential construction was down 9.1%
- Total non-residential construction was up 25.3%
- Private sector construction was up 4.9%
- Public sector construction was up 16.5%
Year to date (January-April 2023 vs January-April 2022)
US construction spending was up 6.8%
- Total residential construction was down 7.2%
- Total non-residential construction was up 22.1%
- Private sector construction was up 4.6%
- Public sector construction was up 15.8%
Source: US Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis
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