Construction spending in the US fell by 1.1 percent from the previous month to a seasonally adjusted annual rate of USD 1.76 trillion in June of 2022, compared to the revised 0.1 percent increase in May and market expectations of a 0.1 percent gain. It was the largest decrease since February of 2021. Spending on private construction contracted by 1.3 percent, dragged by residential (-1.6 percent), power (-1.8 percent), and commercial (-0.6 percent) construction. At the same time, public construction shrank 0.5 percent, pressured by highways and streets (-2.7 percent), transportation (-1 percent), and education (-0.7 percent) construction. source: U.S. Census Bureau
Construction Spending in the United States averaged 0.46 percent from 1964 until 2022, 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 August of 2022.
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. In the long-term, the United States Construction Spending is projected to trend around 0.20 percent in 2023 and 0.40 percent in 2024, according to our econometric models.