US construction spending decreased 0.9 percent from a month earlier to a seasonally adjusted annual rate of USD 1.28 trillion in March of 2019, following a downwardly revised 0.7 percent rise in the previous month and missing market expectations of a 0.1 percent gain. Investment in public construction dropped 1.3 percent after rising 3.2 percent in February and spending on private construction declined 0.7 percent to the lowest level since August of 2017, after slipping 0.2 percent in the prior month. Construction Spending in the United States averaged 0.45 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 -0.30 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 -0.50 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.