U.S. construction spending declined 1.9% month-over-month in September 2026, reversing sharply from a 0.9% gain recorded in August 2026. The latest figures, updated on 2 November 2026, show a notable pullback in activity after a period of modest growth.
The data, measured on a month-over-month basis, compare the change in September’s spending with August, while the previous reading measured August against July. The swing from positive to negative territory suggests a cooling in construction momentum as the sector heads into the final quarter of the year. Investors and policymakers will be watching upcoming releases closely for signs of whether this downturn reflects a temporary pause or the start of a broader slowdown in U.S. construction activity.
