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Construction MMI: Construction spending ticks up, ABI shows growth
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Construction spending rises in June, ABI remains near record highs
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Construction spending dips in May while ABI again posts growth
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Construction Monthly Metals Index (MMI) held flat for this month’s reading.
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US construction spending ticks up in April
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U.S. construction spending reached a seasonally adjusted annual rate of $1,524.2 billion in April, the Census Bureau reported.
The estimated April rate marked a 0.2% increase from the previous month and a 9.8% increase on a year-over-year basis.
Construction spending amounted to $452.3 billion during the first four months of the year, or up 5.8% from the same period in 2020.
The
Construction Monthly Metals Index (MMI) jumped by 12.1% for this month’s reading, as construction spending picked up in March.
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US construction spending rises
US construction spending in March reached a seasonally adjusted annual rate of $1,513.1 billion, the Census Bureau reported.
The March rate marked a 0.2% increase from February and a 5.2% increase from February 2020.
Meanwhile, construction spending in Q1 rose 4.5% year over year to $328.3 billion.
Broken down further, spending on private construction reached a rate of $1,169.2 billion, or up 0.7% from February. Within private construction, residential construction came in at a rate of $725.2 billion, or up 1.7%. Nonresidential construction dipped 0.9% to $444.0 billion.