U.S. Construction Spending Down in April

Total construction spending fell 0.4 percent in April, according to statistics released by the U.S. Commerce Department.

Total spending in the U.S. fell to a $1.12 trillion annual rate following a revised 0.6 percent decrease in March.

Residential construction fell 2.3 percent, overshadowing gains in the nonresidential sector, which saw a 1.6 percent increase in March.

Total spending in April is 3.9 percent below the number for April 2007. For the first four months of the year, total construction spending amounted to $331.6 billion, 2.8 percent below the $341.2 billion posted for the same period last year.

More information is available at www.commerce.gov.