www.floortrendsmag.com/articles/83923-april-construction-spending-hits-record-high
April construction spending hits record high
June 4, 2001
WASHINGTON -- U.S. construction spending posted a modest rise in April, its sixth consecutive monthly gain, to hit yet another record high on a climb in residential construction, according to a government report.
Construction spending rose 0.3% in April to a record $855.2 billion annual rate, following a downwardly revised 1.1% gain in March. Construction spending in March originally was reported as being up 1.3%.
The increase in April was slightly greater than Wall Street expectations. Analysts had predicted construction spending would be unchanged for the month.
Compared with a year ago, construction spending rose 4.8%. Residential spending rose in April by 0.7%, to a $372.7 billion annual rate, marking an increase of 1% over April of last year.