Construction spending in the United States rose by 0.5% month-over-month to a seasonally adjusted annual rate of $1,9238.4 billion in June of 2023, after an upwardly revised 1.1% increase in May and slightly below market forecasts of a 0.6% rise. Private spending went up by 0.5%, boosted by the residential segment (+0.9%), with spending on single-family projects increasing by 2.1% and outlays on multi-family housing projects advancing by 1.5%. On the other hand, spending on the non-residential segment stalled, as a strong increase in religious (+3.7%) was partly offset by declines in power (-1.6%), health care (-1%) and communication (-0.4%). Meanwhile, public spending was up by 0.3%, supported by growth in the non-residential segment (+0.3%). Yearly, construction spending grew by 3.5% in June. source: U.S. Census Bureau

Construction Spending in the United States averaged 0.47 percent from 1964 until 2023, 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 2023.

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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

United States Construction Spending



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-03 02:00 PM May 0.9% 0.4% 0.6% 0.6%
2023-08-01 02:00 PM Jun 0.5% 1.1% 0.6% 0.4%
2023-09-01 02:00 PM Jul 0.5% 0.5% 0.4%


Related Last Previous Unit Reference
Building Permits 1443.00 1441.00 Thousand Jul 2023
Housing Starts 1452.00 1398.00 Thousand units Jul 2023
New Home Sales 714.00 684.00 Thousand units Jul 2023
Construction Spending 0.50 1.10 percent Jun 2023
Home Ownership Rate 65.90 66.00 percent Jun 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.50 1.10 5.90 -4.80 1964 - 2023 percent Monthly
Current Prices, SA

News Stream
US Construction Spending Below Forecasts
Construction spending in the United States rose by 0.5% month-over-month to a seasonally adjusted annual rate of $1,9238.4 billion in June of 2023, after an upwardly revised 1.1% increase in May and slightly below market forecasts of a 0.6% rise. Private spending went up by 0.5%, boosted by the residential segment (+0.9%), with spending on single-family projects increasing by 2.1% and outlays on multi-family housing projects advancing by 1.5%. On the other hand, spending on the non-residential segment stalled, as a strong increase in religious (+3.7%) was partly offset by declines in power (-1.6%), health care (-1%) and communication (-0.4%). Meanwhile, public spending was up by 0.3%, supported by growth in the non-residential segment (+0.3%). Yearly, construction spending grew by 3.5% in June.
2023-08-01
US Construction Spending Above Forecasts
Construction spending in the United States rose by 0.9% month-over-month to a seasonally adjusted annual rate of $1,925.6 billion in May of 2023, after a downwardly revised 0.4% rise in April and slightly above market forecasts of a 0.6% rise. It was the strongest increase in construction spending in four months. Private spending rose by 1.1%, boosted by the residential segment (2.2%), with spending on single-family projects increasing by 1.7% while outlays on multi-family housing projects fell by 0.1%. The non-residential sector shrank 0.3%, especially for religious (-6.7%), health care (-2.1%) and commercial (-1.8%). Meanwhile, public spending ticked up by 0.1%, hampered by weak growth in the non-residential segment (0.1%). Yearly, construction spending grew by 2.4% in May.
2023-07-03
US Construction Spending Rises More than Expected
Construction spending in the United States rose by 0.3% month-over-month to a seasonally adjusted annual rate of $1,834.7 billion in March of 2023, making up for the upwardly revised 0.3% drop in the previous month and surpassing market expectations of a 0.1% increase. Private spending rose by 0.3% to $1,435.1, while public spending edged 0.2% higher to $399.6 billion. Among different sectors, construction was notably higher for manufacturing (4.6% to 147.4 billion), educational buildings (0.4% to $108.2 billion), and lodging (0.4% to $22.4 billion). On the other hand, construction shrank for residential buildings (-0.2% to $837.5 billion) and commercial buildings (-0.8% to $125.4 billion).
2023-05-01