Construction spending in the US increased 0.2 percent from the previous month to a seasonally adjusted annual rate of USD 1.51 trillion in March of 2021, following a downwardly revised 0.6 percent decrease in February and well below market expectations of a 1.9 percent gain. Spending on private construction rose 0.7 percent (vs -0.3 percent in February), as spending on residential picked up (1.7 percent vs 0.1 percent), in particular investment in single-family homebuilding. Meanwhile, outlays on nonresidential construction like gas and oil well drilling dropped 0.9 percent. Also, public construction outlays declined 1.5 percent (vs -1.6 percent), mainly due to highway and street (-2.2 percent vs -0.9 percent) and education (-2 percent vs -2.5 percent). source: U.S. Census Bureau
Construction Spending in the United States averaged 0.45 percent from 1964 until 2021, 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 2021.
Construction Spending in the United States is expected to be 1.20 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 -0.20 in 12 months time. In the long-term, the United States Construction Spending is projected to trend around 0.40 percent in 2022, according to our econometric models.