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.

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United States Construction Spending

Actual Previous Highest Lowest Dates Unit Frequency
1.00 1.10 5.90 -4.80 1964 - 2020 percent Monthly
Current Prices, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-02 03:00 PM Sep 0.3% 0.8% 1% 0.7%
2020-12-01 03:00 PM Oct 1.3% -0.5% 0.8% 0.7%
2021-01-04 03:00 PM Nov 0.9% 1.6% 1% 0.7%
2021-02-01 03:00 PM Dec 1% 1.1% 0.9% 0.6%
2021-03-01 03:00 PM Jan 1% 0.8% 0.7%
2021-04-01 02:00 PM Feb
2021-05-03 02:00 PM Mar
2021-06-01 02:00 PM Apr


News Stream
US Construction Spending Rises for 3rd Month
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.
2021-02-01
US Construction Spending Rises 0.9% in November
Construction spending in the US rose 0.9 percent from the previous month to a seasonally adjusted annual rate of USD 1.46 trillion in November 2020, following an upwardly revised 1.6 percent growth in October and remaining slightly below market expectations of 1.0 percent. Spending on private construction increased 1.2 percent, boosted by a 2.7 percent advance in spending on residential projects. Meanwhile, outlays on nonresidential construction like gas and oil well drilling dropped 0.8 percent. Public construction outlays fell 0.2 percent in November.
2021-01-04
US Construction Spending Rises the Most in 9 Months
Construction spending in the US increased 1.3 percent from the previous month to a seasonally adjusted annual rate of USD 1.44 trillion in October 2020, following a downwardly revised 0.5 percent fall in September and beating market expectations of a 0.8 percent gain. That was the largest increase in construction spending since January. Spending on private construction rose 1.4 percent, rebounding from a 0.4 percent drop, fueled by investment in homebuilding amid record-low mortgage rates and a pandemic-driven migration to suburbs and low-density areas. Also, investment in public construction projects was up 1 percent, recovering from a 0.7 percent fall.
2020-12-01
US Construction Spending Rises Less than Forecast
Construction spending in the US rose 0.3 percent from the previous month to a seasonally adjusted annual rate of USD 1.41 trillion in September 2020, following a downwardly revised 0.8 percent growth in August and missing market expectations of 1.0 percent. Spending on private construction increased 0.9 percent, boosted by investment in homebuilding amid record low interest rates and increasing demand from people moving away from big cities due to the coronavirus crisis; while outlays on nonresidential construction like gas and oil well drilling dropped 1.5 percent. Meanwhile, spending on public construction projects fell 1.7 percent.
2020-11-02

United States Construction Spending
Construction Spending refers to monthly estimates of the total dollar value of construction work done on new structures or improvements to existing structures for private and public sectors each month in the United States. In 2016, private construction spending accounted for 75 percent of total spending and public for 25 percent. Spending in non-residential construction represented 60 percent of total and residential accounted for 40 percent.