The U.S. Commerce Department released construction spending data on Monday. Construction spending in the U.S. rose 0.1% in June, missing expectations for a 0.6% gain, after a 1.8% increase in May. May's figure was revised up from a 0.8% rise.

The decline was driven by a decrease in private construction. Private construction spending fell 0.5% in June. It was the largest decline since June 2014.

Public construction spending increased 1.6%. It was the largest increase since November 2010.