In Brief: Some Construction Is Still on the Rise

Wall Street Journal (06/04/08) P. C14
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.