US construction spending decreased by 0.2% from the previous month in January 2024, following an upwardly revised 1.1% growth in the previous period and falling short of the market consensus of a 0.2% rise. It marked the first monthly contraction in building activity since December 2022, as public construction outlays fell by 0.9%, primarily due to declines in spending on educational construction (-0.7%) and highway construction (-2.1%). On the other hand, spending on private construction saw a slight increase of 0.1%, driven by a 0.2% rise in residential construction, which offset a 0.1% drop in nonresidential construction. source: U.S. Census Bureau
Construction Spending in the United States decreased 0.20 percent in January of 2024 over the previous month. Construction Spending in the United States averaged 0.48 percent from 1964 until 2024, 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 April of 2024.
Construction Spending in the United States decreased 0.20 percent in January of 2024 over the previous month. Construction Spending in the United States is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.