 | Daily Real Estate News | June 4, 2008 |
Some Construction Is Still on the Rise
The U.S. Census Bureau reports that spending on commercial construction has continued to rise, led by the hotel sector.
In April, private nonresidential construction saw expenditures hit a seasonally adjusted annual rate of $388 billion, a 1.6-percent increase from the previous month and a 15.4-percent improvement from April 2007.
At the same time, the value of private residential construction fell 21 percent from a year earlier to finish April at a seasonally adjusted annual rate of $435.8 billion.
Source: Wall Street Journal (06/04/08)
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