Steel Markets
June 4, 2021
April CPIP Data: Residential Construction Keeps Leading the Way
Written by David Schollaert
The construction sector continues to gain momentum, but the effects of the COVID pandemic linger. Growth remains uneven as most sectors are still struggling to rebound from the doldrums seen last year.
Total construction spending during April 2021, at a seasonally adjusted annual rate, was $1.524 trillion, up 0.2% from March’s revised estimate of $1.521 trillion, reported the U.S. Census Bureau. Total construction was also up 9.8% compared to a year ago when spending was $1.388 trillion. Year-to-date construction spending amounted to $452.3 billion, 5.8% above the $427.3 billion for the same period in 2020.
