Posted To: MND NewsWire

Construction spending inched up in April, but the increase was tempered by a decline in publicly funded projects. The U.S. Census Bureau put the rate of seasonally adjusted annual spending during the month at $1.524 trillion, up 0.2 percent from the $1.521 trillion rate in March and 9.8 percent above spending in April 2020. On a non-adjusted basis, total spending for the month was $123.483 billion compared to $118.037 billion in March. For the year-to-date (YTD) spending has reached $452.292 billion, a 5.8 percent increase from the $427.317 billion spent during the first four months of last year. Total spending in the private sector was at an annual rate of $1.181 trillion compared to $1.175 trillion in March, an uptick of 0.4 percent. Spending in April 2020 was at a rate of $1.037 trillion…(read more)

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Source: Mortgage News Daily