April 2009 Construction at $968.7 Billion Annual Rate

During the first four months of this year, construction spending amounted to $286.3 billion, 11.3 percent below the $322.8 billion for the same period in 2008. - Courtesy of CalculatedRiskBlog.com

Construction spending is up for the month, but still down from last yar at this time. This data could mean a long, slow road to recovery. The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2009 was estimated at a seasonally adjusted annual rate of $968.7 billion, 0.8 percent above the revised March estimate of $961.3 billion. The April figure is 10.7 percent below the April 2008 estimate of $1,085.2 billion. – Courtesy of Bureau of Economic Analysis