U.S. construction starts up 3 percent in April
Nonresidential building and housing led the way as U.S. construction starts in April increased 3 percent to a seasonally adjusted annual rate of $533.7 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial.
The former increased 14 percent to $202.8 billion, while the latter grew 4 percent to $214.4 billion. The residential increase was the result of another gain for multifamily housing, which grew by 19 percent in April, according to McGraw Hill.
Nonbuilding construction, which would include public works and electric utilities, decreased 14 percent to $116.5 billion, according to McGraw Hill.