The following is the unedited transcript of the news release from the Department of Commerce.


APRIL 2008 CONSTRUCTION AT $1,120.9 BILLION ANNUAL RATE

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2008 was estimated at a seasonally adjusted annual rate of $1,120.9 billion, 0.4 percent (±1.3%)* below the revised March estimate of $1,125.8 billion. The April figure is 3.9 percent (±1.9%) below the April 2007 estimate of $1,166.2 billion. During the first 4 months of this year, construction spending amounted to $331.6 billion, 2.8 percent (±1.8%) below the $341.2 billion for the same period in 2007.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $823.8 billion, 0.5 percent (±1.1%)* below the revised March estimate of $827.7 billion. Residential construction was at a seasonally adjusted annual rate of $435.8 billion in April, 2.3 percent (±1.3%) below the revised March estimate of $445.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $388.0 billion in April, 1.6 percent (±1.1%) above the revised March estimate of $381.8 billion.

PUBLIC CONSTRUCTION

In April, the estimated seasonally adjusted annual rate of public construction spending was $297.1 billion, 0.3 percent (±2.1%)* below the revised March estimate of $298.1 billion. Educational construction was at a seasonally adjusted annual rate of $84.6 billion, 0.3 percent (±2.7%)* below the revised March estimate of $84.9 billion. Highway construction was at a seasonally adjusted annual rate of $80.1 billion, 0.1 percent (±7.7%)* above the revised March estimate of $80.1 billion.


Available at:

http://www.census.gov/const/C30/release.pdf