Posted To: MND NewsWire

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…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily