U.S. Construction Spending Down Slightly in April

The U.S. government is reporting that total construction spending in April, 2024 was at a seasonally adjusted annual rate of $2,099 billion, which is 0.1% lower than March’s revised number. However, April’s revised estimate is 10% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $890.4 billion in April, which is 0.1% higher than March’s revised estimate.

Click here to read the full report at the U.S. Census Bureau.

Comments

Mike Hurney6/24/2024

Paint Can you understand the above graph from the US Census Bureau? It appears that the April 0.1% down from March seems insignificant. Mike Ok, I looked at paint to try and make sense of that graph. Right now, this 2024 Summer, we're paining three houses. I'll break that down for now: ¿Necesario? ¿Color? ¿Dirigir? ¿Precio? #49 - Small SF (1748 sf) ¿Necesario? could use a paint job, half is peeling and upon further inspection there's a little mold underneath the large flakes dropping off (perhaps the previous paint was applied before the pressure washing had time to dry. Should be sanded to bare wood the next paint job. ¿Color? Change color - NO, the adjacent garage was rebuilt and sided with "Cedar Impressions" vinyl siding in Gray. ¿Dirigir? (¿Lead paint?) Jerry our Lead Inspector that spoke at our last meeting, Xray tested = No Lead. ¿Precio? Sherwood - $12,000 (touch sand where needed, pressure wash oil prime bare spots 2 coats finish) Jose’- $5,600. “ Jonathan - $12,000 No $11k No $10k w/#1 (scrape all paint, 1 coat oil primer, 2 coats finish) #5 Small MF (1320 sf) ¿Necesario? Could use a paint job, side showing is stained from cooking grease that was vented and ran down the wood shingles (despite the Tenants claims that it isn't from them :-0 ¿Color? Tan color, could be Off-white? ¿Dirigir? Jerry - only detected on garage doors, which could be replaced. ¿Precio? Jose’ $6,400 (touch sand where needed, pressure wash oil prime bare spots 2 coats finish) #1Larger SF (2595 sf) ¿Necesario? Yes some sides are flaking to the bare wood. ¿Color? Cornbread C2, only because of the extra yellow pigment. ¿Dirigir? Yes, All over! ¿Precio? Sherwood $20,000 (touch sand where needed, pressure wash oil prime bare spots 2 coats finish) Jonathan $25,000 with #49 (scrape all paint, 1 coat oil primer, 2 coats finish) but it is very expensive to dispose. Let’s find out what that is worth and take it out. MH - RRP licesne Retail Sales: Paint and Wallpaper Stores (Max, monthly, 2001/01/01 - 2024/04/01) https://fred.stlouisfed.org/series/MRTSSM44412USN Retail Sales: Paint and Wallpaper Stores (1Y, monthly, 2023/04/01 - 2024/04/01) https://fred.stlouisfed.org/series/MRTSSM44412USN Let’s breakdown our material, paint, costs: #1 25’+25’+32’+32’ = 114 lf x 20 h = 2,280. sf 2,280 sf/250/sf /gal = 9.1 gallons oil primer x $ = Behr Ultra $50/gallon w/Mass tax = $500. 2,280 sf/400/sf/gal = 5.7 x 2 coats = 11.4 gallons finish x $ = $600. ( $300 + 6 $77. C2 $456. =$756.) 2 gallons trim x$100 Total paint = $1200. (C2 $1356.)

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