United States Construction Spending

Last Release

Feb 29, 2024

Actual

-0.3

Units In

-0.2

Frequency

Monthly

Next Release

May 01, 2024

Time to Release

29 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
5.9 Apr 1978	-4.8 Feb 1975	0.45 %	1964-2024	U.S. Census Bureau

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.

Latest Updates

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.