USA: Construction Spending Unexpectedly Rises.

Construction spending in the US rose 0.2% month-over-month in August 2025, matching the upwardly revised 0.2% increase in July and defying expectations of a 0.1% decline. Residential construction spending surged 0.8%, offsetting a 0.2% decline in nonresidential activity. Within the nonresidential sector, construction fell in manufacturing (-0.9%), power (-0.2%), highways and streets (-0.2%), and transportation (-0.5%), but rose in the educational segment (0.7%). Meanwhile, private construction spending increased 0.3%, with residential activity up 0.8% and nonresidential projects rising 0.3%. On the other hand, public construction spending was virtually unchanged from July. Year-on-year, construction spending declined 1.6%. For the first eight months of the year, total construction spending reached $1,438.0 billion, 1.8% lower than in the same period of 2024.