Construction spending in the US increased 1 percent from the previous month to a seasonally adjusted annual rate of USD 1.49 trillion in December of 2020, easing from an upwardly revised 1.1 percent growth in November but above market expectations of 0.9 percent. It was the third consecutive month of gains in construction spending and the highest level since records began in 2002. Spending on private construction rose 1.2 percent, boosted by a 3.1 percent advance in spending on residential projects. Meanwhile, outlays on nonresidential construction like gas and oil well drilling dropped 1.7 percent. Public construction outlays went up 0.5 percent in December. source: U.S. Census Bureau
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 February of 2021.
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 0.60 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.