WASHINGTON — Construction spending rose by a seasonally adjusted 0.4% in April, the Commerce Department reported Wednesday.
The March number was revised to a 0.1% gain from the originally reported 1.4% increase. That makes April’s increase the largest percentage gain since the 1.1% rise in October 2010.
Economists polled by Thomson Reuters had a median estimate of a 0.4% jump in construction.
Analysts were expecting an April increase as a continued “payback” for the weather-induced decline in winter building.
