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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

June 03, 2024

Month over month (April 2024 vs March 2024), seasonally adjusted annual rate)

US construction spending decreased 0.1% to $2,099.0 billion.                                                                                                                                                    

  • Total residential construction increased 0.1% to $902.3 billion.
  • Total non-residential construction spending decreased 0.3% to $1,196.7 billion.
  • Private sector construction decreased 0.1% to $1,611.9 billion.
  • Public sector construction decreased 0.2% to $487.1 billion.                                                           

Private residential construction increased 0.1% to $890.4 billion, while private non-residential construction spending decreased 0.3% to $721.5 billion.

Public residential construction decreased 0.3% to $11.9 billion, while public non-residential construction spending decreased 0.2% to $475.3 billion.

Year-to-date (January-April 2024 vs January-April 2023)

US construction spending increased 10.7%. 

  • Total residential construction increased 5.6%.
  • Total non-residential construction spending increased 14.9%.
  • Public sector construction increased 18.9%.                                                          
  • Private sector construction increased 8.5%.

Source: US Census Bureau, retrieved from Federal Reserve Bank of St. Louis

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