Posted To: MND NewsWire

Overall spending on construction fell in April, down 2.9 percent to a seasonally adjusted annual rate of $1.346 trillion from 1.387 trillion. This still left the rate 3.0 percent higher than it was in April 2019. On a non-adjusted basis, spending was $110.492 billion compared to $107.758 billion in March and 106,786 the previous April. Thus far in 2020, spending has totaled $412.465 billion, a 7.1 percent increase from the year-to-date (YTD) spending in 2019. Privately funded construction was at an annual rate of $1.004 trillion, down 3.0 percent from the $1.036 trillion rate in March, but still up 3.8 percent from the expenditures a year earlier. On an unadjusted basis spending was a tad higher than in March, $83.865 billion compared to $83.654 billion, At $318.110 billion, however, spending…(read more)

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Source: Mortgage News Daily