Construction Spending Up 14.9 Percent in April 2015

The value of construction put in place in April 2015 was $80,905 (millions of real dollars). Compared with one year ago, spending in April was up 14.9 percent. This was the fastest rate of month-over-month growth since February 1999. Also, this was the fifth straight month of accelerating growth and the third straight month of more 12 percent growth. The annual rate of growth was 5.8 percent in April. It has grown at an accelerating for three straight months. Residential construction makes up about 33 percent of total construction. Residential construction is growing, but at a noticeably slower rate than all other types of construction.

Real construction spending is a good leading indicator for construction materials, hardware, and HVAC industrial production.