June 1, 2025

Construction spending (the green bars above) fell 0.4% in April after declining 0.8% in March.  This indicator has fallen slowly in the past several months..  In the past 12 months it has declined 0.5%.

Private construction spending (excluding the government sector) declined 0.7% in April after falling 1.0% in March.  In the past year private construction has declined 2.2%

Within the private construction spending category, residential spending declined 0.9% in April after falling 1.2% in March.   In the past 12 months residential construction spending declined 4.5%.

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Nonresidential construction fell 0.5% in April after dropping 0.8% in March.   In the past 12  months nonresidential construction has risen 1.0%.

Public sector construction spending rose 0.4% in April after having been unchanged in March.  In  the past year such spending has risen 5.5%.

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All of the components of construction spending have declined slightly since the end of last year which means their year-over-year growth rates have been steadily slowing.

Stephen Slifer

NumberNomics

Charleston, SC