Construction spending at all time high | Bedford Hills Real Estate

Construction spending in the US was unchanged at an all-time high of USD 1.26 trillion in January 2018, following an upwardly revised 0.8 percent increase in December and missing market expectations of 0.3 percent. Spending on private construction fell 0.5 percent to USD 962.7 billion after hitting a record high of USD 967.9 billion in the previous month, due to a decline in nonresidential projects (-1.5 percent). Meanwhile, outlays on public construction projects increased 1.8 percent to USD 300.0 billion in January, the highest level since August 2015, as spending on federal government construction projects surged 14.9 percent to the highest level since September 2011 and that on state and local government construction rose 0.5 percent to a near two-year high. 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.