Steel Markets
June 2, 2020
Construction Spending Declines in April
Written by Sandy Williams
Construction spending fell 2.9 percent in April after holding steady in March. The Department of Commerce estimates construction spending was at a seasonally adjusted annual rate of $1.35 trillion—the lowest total since November, says the Associated General Contractors of America.
Public construction spending dropped 2.5 percent from March to $342.1 billion. Private spending fell 3.0 percent month-over-month to an estimated $1,004.1 billion. Private nonresidential spending fell by 1.3 percent and private residential spending by 4.5 percent.
