National Commercial Real Estate News From CoStar Group
Private Projects Provide Boost For Nonresidential Construction Spending
The recovery in private nonresidential construction continued on a slow and steady track this spring according to new data from the U.S. Census Bureau, with construction spending rising in April from the previous month's disappointing number.
Total nonresidential spending rose by a modest 0.7% in April to a seasonally adjusted annual rate of $552.45 billion, but remains down 2.1% from a year ago. Privately financed projects drove most of the gains...