Construction spending in the US fell by 2.1 percent from the previous month to a seasonally adjusted annual rate of USD 1.36 trillion in May 2020, following a revised 3.5 percent plunge and missing market expectations of a 1.0 percent growth. Spending on private construction dropped 3.3 percent led by falls in residential (-4.0 percent), lodging (-3.6 percent) and manufacturing spending (-4.1 percent). Meanwhile, public outlays rose by 1.2 percent mainly due to higher investment in highways, streets (2.8 percent).
Construction Spending in the United States averaged 0.44 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 July of 2020.
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. Looking forward, we estimate Construction Spending in the United States to stand at 1.20 in 12 months time. In the long-term, the United States Construction Spending is projected to trend around 0.40 percent in 2021, according to our econometric models.