By Dees Stribling | MHN Online
The Census Bureau reported on Monday that U.S. construction spending during April, both public and private, came in at an annualized rate of $953.5 billion, or 0.2 percent above the March rate. The April 2014 figure is also 8.6 percent above the April 2013 rate of $878.4 billion.
Spending on private construction projects was at an annualized rate of $686.5 billion, nearly the same as in March, but up 11.7 percent for the year. Public construction, on the other hand, actually inched up in April. The annualized rate of public construction spending was $267 billion, 0.8 percent above the revised March rate, and 1.2 percent more than a year ago.
