Construction spending in the US increased 0.1 percent from a month earlier at a seasonally adjusted annual rate of USD 1.29 trillion in August of 2019, after showing no growth in the previous month and well below market expectations of a 0.4 percent gain. Spending on public construction advanced 0.4 percent, easing from a 1.4 percent jump in July. Investment in private construction was flat, after a 0.5 percent fall in the prior month, as a 0.9 percent increase in private residential investment, the highest since November 2018, was offset by a second straight monthly decline in outlays on nonresidential projects (-1 percent from -1.6 percent). Year-on-year, construction spending slumped 1.9 percent. Construction Spending in the United States averaged 0.44 percent from 1964 until 2019, 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.
Construction Spending in the United States is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Spending in the United States to stand at 0.50 in 12 months time. In the long-term, the United States Construction Spending is projected to trend around 0.40 percent in 2020, according to our econometric models.