Construction spending in the US increased 0.2 percent from the previous month to a seasonally adjusted annual rate of USD 1.745 trillion in April of 2022, easing from an upwardly revised 0.3 percent gain in March and missing market expectations of a 0.5 percent advance. Spending on private construction rose 0.5 percent, mainly due to higher expenditure for new single family residential construction (0.5 percent) and manufacturing (1.6 percent) and office infrastructure (0.1 percent) while spending fell for power (-1.5 percent) and commercial construction (-0.2 percent). On the other hand, public construction outlays fell 0.7 percent from the previous month, dragged down by lower spending for both non-residential (-0.7 percent) and residential (-1.2 percent) construction. source: U.S. Census Bureau
Construction Spending in the United States averaged 0.47 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 June of 2022.
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. 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.