Construction spending in the US rose 0.9 percent from the previous month to a seasonally adjusted annual rate of USD 1.360 trillion in March 2020, rebounding from an upwardly revised 2.5 percent fall in the previous month and beating market expectations of a 3.5 percent decrease. Investment in public construction projects increased 1.6 percent (vs -0.6 percent in February) and those on private construction went up 0.7 percent (vs -3.1 percent). Considering the first quarter of the year, construction spending surged 6.7 percent over the same period of 2018. Year-on-year, construction spending advanced 4.7 percent.
Construction Spending in the United States averaged 0.45 percent from 1964 until 2020, reaching an all time high of 5.90 percent in April of 1978 and a record low of -4.80 percent in February of 1975. This page provides the latest reported value for - United States Construction Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Construction Spending - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.
Construction Spending in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Spending in the United States to stand at 0.40 in 12 months time. In the long-term, the United States Construction Spending is projected to trend around 0.40 percent in 2021, according to our econometric models.