United States Construction Spending

Construction spending in the US increased by 0.1 percent from the previous month to a seasonally adjusted annual rate of USD 1.731 trillion in March of 2022, slowing from a 0.5 percent advance in February and missing market expectations of a 0.7 percent gain. Spending on private construction rose 0.2 percent, mainly due to higher expenditure for new single family residential construction (1.3 percent) and communication infrastructure (0.1 percent), while spending fell for commercial construction (-1.9 percent). On the other hand, public construction outlays fell 0.2 percent from the previous month, dragged down by lower spending for non-residential construction (-0.3 percent).