U.S. construction spending climbed in April to the highest level in more than six years, fueled by healthy gains in housing, government spending and non-residential construction.
The Commerce Department says construction spending advanced 2.2 percent in April to a seasonally adjusted annual rate of $1 trillion, the highest level since November 2008. Spending had risen a more modest 0.5 percent in March.
The gain included a 0.6 percent rise in residential construction and a 3.1 percent jump in non-residential activity such as office buildings, hotels and shopping centers. Government projects increased 3.3 percent, reflecting the biggest jump in spending on state and local projects in three years.