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Construction spending posts modest 0.2% gain in April

Construction spending posts modest 0.2% gain in April

WASHINGTON – U.S. construction spending rose a modest 0.2 per cent gain in April as strength in housing offset further weakness in nonresidential construction.

The April increase is 9.8 per cent above the construction level in April 2020. Through the first four months of this year, construction activity is 5.8 per cent higher than the same period in 2020.

Homebuilding, a standout performer over the past year, rose one per cent in April while nonresidential construction fell 0.5 per cent. Spending on government building projects fell 0.6 per cent in April.

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