June 1, 2018

April 2018 Construction Spending: Up 1.8 Percent Over March; Raw April Figure 8.3 Percent Greater Than April 2017

Filed under: Economy,Taxes & Government — Tom @ 10:35 am

From the Census Bureau:

Construction spending during April 2018 was estimated at a seasonally adjusted annual rate of $1,310.4 billion, 1.8 percent (±1.0 percent) above the revised March estimate of $1,286.8 billion. The April figure is 7.6 percent (±1.5 percent) above the April 2017 estimate of $1,217.7 billion. During the first four months of this year, construction spending amounted to $387.0 billion, 6.6 percent (±1.2 percent) above the $363.1 billion for the same period in 2017

6 to 8 percent 12-month increases are very solid.

April’s raw (not seasonally adjusted) construction figure of $106.736 billion was 8.3 percent higher than April 2017′s $98.545 billion.

Two of this year’s first three months have sharp upward revisions to initial estimates:

  • January started out at an annualized $1,262.8 billion. Now it’s $1,294.0 billion, or 2.5 percent higher.
  • February started out at $1,273.1 billion. Now it’s $1,309.2 billion, or 2.8 percent higher.
  • March was $1,284.7. Today it came in at a slightly higher $1,286.8 billion.

Since the much of the revising of previous months’ figures has occurred in the second or later months following the initial estimates, the book is certainly not closed on March, and obviously not April.


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