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.