US construction spending shrank by 0.3% from the previous month in February 2024, following a 0.2% decrease in the previous month and defying market forecasts of a 0.7% rise. That marks the second consecutive decline in construction spending, led by public construction outlays (-1.2%). Meanwhile, spending on private construction was unchanged, with a 0.7% rise in the residential segment being offset by a 0.9% drop in nonresidential construction. Yearly, construction spending grew by 10.7% in February. source: U.S. Census Bureau

Construction Spending in the United States decreased 0.30 percent in February of 2024 over the previous month. Construction Spending in the United States averaged 0.48 percent from 1964 until 2024, 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 April of 2024.

Construction Spending in the United States decreased 0.30 percent in February of 2024 over the previous month. Construction Spending in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-01 03:00 PM
Construction Spending MoM
Jan -0.2% 1.1% 0.2% 0.2%
2024-04-01 02:00 PM
Construction Spending MoM
Feb -0.3% -0.2% 0.7% 0.4%
2024-05-01 02:00 PM
Construction Spending MoM
Mar -0.3% 0.5%


Related Last Previous Unit Reference
Building Permits 1458.00 1523.00 Thousand Mar 2024
Building Permits MoM -4.30 2.30 percent Mar 2024
Construction Spending MoM -0.30 -0.20 percent Feb 2024
Home Ownership Rate 65.70 66.00 percent Dec 2023
Housing Starts 1321.00 1549.00 Thousand units Mar 2024
Housing Starts MoM -14.70 12.70 percent Mar 2024
Housing Starts Multi Family 377.00 347.00 Thousand units Feb 2024
Housing Starts Single Family 1129.00 1012.00 Thousand units Feb 2024
New Home Sales 662.00 664.00 Thousand units Feb 2024
New Home Sales MoM -0.30 1.70 percent Feb 2024

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
-0.30 -0.20 5.90 -4.80 1964 - 2024 percent Monthly
Current Prices, SA

News Stream
US Construction Spending Unexpectedly Falls Again
US construction spending shrank by 0.3% from the previous month in February 2024, following a 0.2% decrease in the previous month and defying market forecasts of a 0.7% rise. That marks the second consecutive decline in construction spending, led by public construction outlays (-1.2%). Meanwhile, spending on private construction was unchanged, with a 0.7% rise in the residential segment being offset by a 0.9% drop in nonresidential construction. Yearly, construction spending grew by 10.7% in February.
2024-04-01
US Construction Spending Falls for First Time in Over a Year
US construction spending decreased by 0.2% from the previous month in January 2024, following an upwardly revised 1.1% growth in the previous period and falling short of the market consensus of a 0.2% rise. It marked the first monthly contraction in building activity since December 2022, as public construction outlays fell by 0.9%, primarily due to declines in spending on educational construction (-0.7%) and highway construction (-2.1%). On the other hand, spending on private construction saw a slight increase of 0.1%, driven by a 0.2% rise in residential construction, which offset a 0.1% drop in nonresidential construction.
2024-03-01
US Construction Spending Beats Forecasts
Construction spending in the United States increased by 0.9% month-over-month to a seasonally adjusted annual rate of $2,096 billion in December of 2023, matching November's revised reading and surpassing market estimates of 0.5% growth. Private spending grew by 0.7% in the period, driven by a 1.4% increase in the residential segment, notably in single-family projects (+1.6%), which more than offset a 0.2% decline in the non-residential segment. Additionally, public spending saw a 1.3% increase compared to the previous month. Yearly, construction spending advanced by 13.9% in December. The value of construction in 2023 was $1,978.7 billion, 7% above the $1,848.7 billion spent in 2022.
2024-02-01