The U.S. Commerce Department released construction spending data on Tuesday. Construction spending in the U.S. rose 0.7% in July, exceeding expectations for a 0.6% gain, after a 0.7% increase in June. June's figure was revised up from a 0.1% rise.

The increase was driven by a rise in private construction. Private construction spending climbed 1.3% in July.

Spending on private non-residential construction projects increased 1.5% in July, while spending on private residential construction was up 1.1%.

Public construction spending decreased 1.0% in July.