Construction spending in the US declined 0.3 percent from the previous month to a seasonally adjusted annual rate of USD 1.545 trillion in May 2021, following a downwardly revised 0.1 percent growth in April and missing market expectations of a 0.4 percent advance. Spending on private construction dropped 0.3 percent (vs 0.3 percent in April), due to spending on lodging (-3.0 percent vs 0.6 percent), manufacturing (-2.7 percent vs -0.3 percent), and commercial (-0.7 percent vs 0.4 percent). Meanwhile, public construction outlays were down 0.2 percent (vs -0.6 percent in April), led by a 1.9 percent drop in educational spending. 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 July of 2021.
Construction Spending in the United States is expected to be 0.60 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 0.80 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.