Economy

Construction spending surges in April

by Vicki Needham - 06/01/10 3:53 PM ET

Nonresidential construction rose 1.7 percent in April to an annual rate of $302.7 billion, the first improvement since March 2009. But that’s still off by 24.9 percent from April of 2009. The uptick comes from increases in private sector work on communications projects and power generation facilities, whereas commercial and school construction fell in April.

Government spending increased 2.4 percent in April to $303.3 billion behind a 2.3 percent increase in spending, spurred by stimulus money from state and local governments.

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