Construction spending in the US fell by 0.1 percent from the previous month to a seasonally adjusted annual rate of USD 1.78 trillion in May of 2022, compared to the upwardly revised 0.8 percent gain in April and market expectations of a 0.4 percent rise. Spending on public construction fell by 0.8 percent from the previous month, dragged by lower outlays for both residential (-0.7 percent) and nonresidential (-0.8 percent) construction. At the same time, private construction was virtually unchanged, as higher spending in residential (0.2 percent) and manufacturing (1.2 percent) construction offset decreases in highways (-2.3 percent) and healthcare (-1.8 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 July 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.