US construction spending was unchanged from a month earlier to a seasonally adjusted annual rate of USD 1.33 trillion in September 2018, following an upwardly revised 0.8 percent gain in August and market expectations of a 0.1 percent rise. Spending on private construction rose 0.3 percent to a record high, following a 0.4 percent gain in the previous month, mainly boosted by residential (0.6 percent) and non-residential projects (0.1 percent). Meantime, spending on public construction fell 0.9 percent, the largest decrease since August last year, after rising 2.2 percent in August. Construction Spending in the United States averaged 0.45 percent from 1964 until 2018, 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.
Construction Spending in the United States is expected to be 1.00 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 0.80 in 12 months time. In the long-term, the United States Construction Spending is projected to trend around 0.40 percent in 2020, according to our econometric models.