WASHINGTON, DC-The latest construction spending figures showthat activity rebounded strongly in April, with a 2.7% increasefrom the previous month. That represents $23 billion, to aseasonally adjusted annual rate of $869 billion.
Gains were primarily driven by private residential construction(up 4.4% ) and public construction (up 2.4% ) -- also private nonresidential increased significantly by 1.7%.
According to the Associated General Contractors of America, thegood news that can be distilled from these figures is that thestimulus is beginning to show tangible impact. The bad news is thatit is just about the only driver of activity now.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
