Construction · United States
United States Construction Spending MoM
The United States Construction Spending MoM measures building activity in the United States: housing, commercial buildings and infrastructure.
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- USD · US dollar
- Central bank
- The Federal Reserve
Latest figures
The latest release for SEP, published on 2 November 2026, came in at -1.9%, below the consensus of 0.4%, down from 2% the time before (revised).
A weaker figure than expected points to slowing activity: the US dollar tends to soften and markets price in lower rates.
Over the last 12 releases it ranged from -1.9% to 0.9%, averaging -0.1%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 2 Nov 2026 | SEP | -1.9% | 0.4% | 2% ® |
| 1 Oct 2026 | AUG | 0.9% | 0% | -0.1% ® |
| 1 Sep 2026 | JUL | -0.5% | 0% | 0% ® |
| 3 Aug 2026 | JUN | -0.1% | 0.2% | 0% ® |
| 1 Jul 2026 | MAY | 0.1% | 0.2% | 0.3% ® |
| 1 Jun 2026 | APR | 0.4% | 0.2% | 0.2% ® |
| 7 May 2026 | FEB | -0.2% | – | -1.9% ® |
| 7 May 2026 | MAR | 0.6% | 0.2% | -0.2% |
| 23 Mar 2026 | JAN | -0.3% | 0.1% | 0.8% ® |
| 27 Feb 2026 | NOV | -0.2% | – | -0.1% ® |
| 27 Feb 2026 | DEC | 0.3% | 0.3% | -0.2% |
| 21 Jan 2026 | SEP | -0.6% | – | 0.4% ® |
Why it matters
Construction is sensitive to interest rates and an early casualty of tighter credit; it also feeds jobs and materials demand.
How it is calculated
Output or spending on construction projects, reported by builders and adjusted for prices and seasons.
What changes mean
- Falling construction after rate hikes shows policy working.
- Public infrastructure can offset weak private building.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the US dollar and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the US dollar tends to soften and markets price in lower rates.
A short history
Construction statistics became standard in the post-war rebuilding era; housing booms and busts, such as 2006–2009, made them closely watched.
Questions
What is the United States Construction Spending MoM?
The United States Construction Spending MoM measures building activity in the United States: housing, commercial buildings and infrastructure.
What was the latest United States Construction Spending MoM?
-1.9% for SEP, published on 2 November 2026 (consensus 0.4%, previous 2%).
When is the next United States Construction Spending MoM?
On Tuesday 1 December 2026 at 15:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.