A June 1 report from the U.S. Census bureau shows that construction spending in April was estimated at a seasonally adjusted annual rate of more than $1.9 trillion, 1.2% above the revised March estimate of $1.885 trillion.

The April number is 7.2% above the April 2022 estimate of $1.78 trillion. During the first four months of 2023, construction spending amounted to $566.7 billion, 6.1% above the $533.9 billion for the same period in 2022, according to the Census Bureau.

U.S. spending on private construction was at a seasonally adjusted annual rate of just over $1.5 trillion, 1.3% above the revised March estimate of more than $1.48 billion. Residential construction was at a seasonally adjusted annual rate of $845.4 billion in April, 0.5% above the revised March estimate of $841.6 billion.

Nonresidential construction was at a seasonally adjusted annual rate of $655.3 billion in April, 2.4% above the revised March estimate of $640 billion.

For April, the estimated seasonally adjusted annual rate of public construction spending was $407.7 billion, 1.1% above the revised March estimate of $403.4 billion. Educational construction was at a seasonally adjusted annual rate of $88.3 billion, 0.1% below the revised March estimate of $88.4 billion.

Highway construction was at a seasonally adjusted annual rate of $124.7 billion, 1.3% above the revised March estimate of $123.1 billion.