From the Census Bureau reported that overall construction spending increased:
Construction spending during April 2023 was estimated at a seasonally adjusted annual rate of $1,908.4 billion, 1.2 percent above the revised March estimate of $1,885.0 billion. The April figure is 7.2 percent above the April 2022 estimate of $1,780.9 billion.
Both private and public spending increased:
Spending on private construction was at a seasonally adjusted annual rate of $1,500.7 billion, 1.3 percent above the revised March estimate of $1,481.6 billion. …
In April, the estimated seasonally adjusted annual rate of public construction spending was $407.7 billion, 1.1 percent above the revised March estimate of $403.4 billion.
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This graph shows private residential and nonresidential construction spending, and public spending, since 1993. Note: nominal dollars, not inflation adjusted.
Residential (red) spending is 10.5% below the recent peak.
Non-residential (blue) spending is at a new peak.
Public construction spending is at a new peak.
On a year-over-year basis, private residential construction spending is down 9.2%. Non-residential spending is up 31.1% year-over-year. Public spending is up 16.5% year-over-year.