During the first four months of this year, construction spending amounted to $331.6 billion, 2.8 percent below the $341.2 billion for the same period in 2007.

Spending on private construction was at a seasonally adjusted annual rate of $823.8 billion, 0.5 percent 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 below the revised March estimate of $445.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $388 billion in April, 1.6 percent above the revised March estimate of $381.8 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $297.1 billion, 0.3 percent 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 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 above the revised March estimate of $80.1 billion.