Written by: Chris Broussard Last week the Commerce Department released its April construction data, which the Associated Press reported with the headline, “US construction spending was flat in April as housing fell.” Of course, being the thematic investors that we are, we immediately looked beneath the headlines to dig into the data, mostly because of the obvious point — if the overall construction spending was flat, yet housing construction fell for the month, something else must have increased, right?Well, what we find beneath the headline figures is a significant thematic signal for our Rebuilding America theme: Those declines [in housing construction] were offset by a 4.8% surge in government construction spending to a record high of $299.4 billion, led by big gains in state and local government spending, which also rose to a record high.Spending on highways and streets jumped 6.8%, while school construction rose 2.1%. Federal spending rose to $24.5 billion, the highest since July 2013. Source: US construction spending was flat in April as housing fell We’ve long written that when it comes to the need for Rebuilding America’s infrastructure, a Federal spending bill passed by Congress would go long way to jump-starting projects and provide a clear catalyst from an investment perspective. No one can argue against that. However, given the current partisan bickering on all fronts, that catalyst doesn’t appear to be coming around the bend anytime soon.