Strong Construction Spending Rebound in April

Construction spending rebounded strongly in April, with an increase of 2.7 percent or $23 billion from March to a seasonally adjusted annual rate of $869 billion, according to the latest analysis of federal spending figures released Tuesday by AGC. AGC noted that the gains were primarily driven by private residential construction (up 4.4 percent) and public construction (up 2.4 percent), but that private nonresidential also increased significantly (up 1.7 percent). Read the press release here. The news was covered in Newsday, the Columbus Dispatch and the Providence Journal, among others. For more information, contact Brian Turmail at (703) 837-5310 or turmailb@agc.org.