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Healthcare and Public Safety Expenditures Boost Construction in April
Monday, May 4, 2020
Construction spending posted a gain in April, rising
0.9 percent to a seasonally adjusted annual rate of $1.36 trillion from a
revised estimate of $1.35 trillion in February. This was a 4.7 percent rate of growth
compared to March 2019 when the rate was $1.30 trillion. On an unadjusted basis, total spending increased from
$95.91 billion in February to $105.19 billion in March and was about $6 billion
higher year-over-year. On a year-to-date (YTD) basis spending increased 6.7
percent, rising from $278.46 billion in the first three months of 2019 to
$297.02 billion this year. Total private sector spending rose 0.7 percent for the
month, to $1.02 trillion and was 3.7 percent higher on an annual basis. Spending
on an unadjusted basis rose from $73.94 billion to $81.29 billion and the YTD total
of $229.57 billion is up 5.7 percent from the same period last year.
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