US construction spending increased 0.1 percent from a month earlier at a seasonally adjusted annual rate of USD 1.29 trillion in July of 2019, recovering from a downwardly revised 0.7 percent fall in the previous month and missing market expectations of a 0.3 percent gain. Investment in public construction rose 0.4 percent, after a 3.1 percent slump in June, as spending on state and local government construction projects rebounded 0.6 percent. Meantime, spending on private construction decreased 0.1 percent, down from a 0.1 percent gain. Construction Spending in the United States averaged 0.44 percent from 1964 until 2019, 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 0.40 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 0.30 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.