US construction spending rose 0.8 percent from a month earlier to a seasonally adjusted annual rate of USD 1.30 trillion in November of 2018, after a revised 0.1 percent gain in October and well above market expectations of a 0.2 percent rise. It is the strongest gain since April. Spending on private construction went up 1.3 percent, after a downwardly revised 0.3 percent drop in October, as private outlays rose 3.5 percent while spending on private non-residential projects fell 1.2 percent. Meanwhile, investment in public construction fell 0.9 percent, following an upwardly revised 1.5 percent increase in October, as spending on state and local government construction decreased 1.1 percent while that on federal construction rose 1.2 percent. Year-on-year, construction spending grew 3.4 percent. Construction Spending in the United States averaged 0.45 percent from 1964 until 2018, 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 0.40 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 1.10 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.