MNI DATA IMPACT: US Apr Construction Flat, Below Exp>

--Private Residential Spending -0.6%; Nonresidential -2.9%

--Public Construction Spending +4.8%

By Harrison Clarke

     WASHINGTON (MNI) - Construction spending posted a flat reading in 

April, below the 0.4% gain expected by MNI and the Bloomberg consensus, 

as private residential declined by 0.6%, and nonresidential fell by 

2.9%, data released by the Commerce Department Monday morning showed. 

     Here are the key takeaways from the releases:

     -Private residential construction fell by 0.6% in the month, 

following a 1.2% decline in March. Home building ex. new homes, also 

known as remodeling, saw a 2.5% decrease, according to an MNI 

calculation. Also based on an MNI calculation, total new homes rose by 

0.4%. Single-family building was flat, while multi-family building 

posted a 2.3% increase. 

     -In addition to the decrease in private residential, private 

nonresidential construction also fell by 2.9% in March, exacerbating the 

overall decline in total private construction. The main drivers of the 

category were manufacturing (-7.2%), commercial (-4.5%), and health care 

(-3.9%). 

     -Following an upward March revision to a 0.5% increase from a 

previously reported 1.3% decline, public construction spending rose by 

4.8% in April. The gain in public construction was driven by a 15.7% 

gain in health care and a 6.8% gain in highway and street, as well as 

increases in most other categories. State and local construction was 

up 4.6% in the month. Federal construction rose by 7.4%. 

     ** MNI Washington Bureau: 202-371-2121 ** 

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