Construction spending posts modest 0.2% gain in April

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WASHINGTON (AP) — U.S. construction spending posted a modest 0.2% gain in April as strength in housing offset further weakness in nonresidential construction. The April increase is 9.8% above the level in April 2020 and through the first four months of this year, construction activity is 5.8% higher than the same period in 2020. Home building, a standout performer over the past year, rose 1% in April while nonresidential construction fell 0.5%. Spending on government building projects fell 0.6% in April.

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