Construction spending inched down in April. According to the Calculated Risk blog, which cites data from the U.S. Census Bureau, private residential construction spending fell by 4.8% year-over-year. Additionally, spending for the private residential sector is still 8.9% below its peak in 2022.

Overall, spending on private construction was at a seasonally adjusted annual rate of $1.638 billion, which is 0.7% below the revised March estimate of $1.650 billion. This drop is slightly greater than the decline in spending seen by the construction industry as a whole.

Construction spending during April 2025 was estimated at a seasonally adjusted annual rate of $2,152.4 billion, 0.4 percent below the revised March estimate of $2,162.0 billion. The April figure is 0.5 percent below the April 2024 estimate of $2,163.2 billion. During the first four months of this year, construction spending amounted to $660.2 billion, 1.4 percent above the $651.3 billion for the same period in 2024.