- U.S. construction spending rises less than forecast in June
Market news
2 August 2021
U.S. construction spending rises less than forecast in June
The
Commerce Department announced on Monday that construction spending edged up 0.1
percent m-o-m in June after a revised 0.2 percent m-o-m drop in May (originally
a 0.3 percent m-o-m decrease).
Economists
had forecast construction spending growing 0.4 percent m-o-m in June.
According
to the report, spending on private construction increased 0.4 percent m-o-m,
while investment in public construction declined 1.2 percent m-o-m.
On a
y-o-y basis, construction spending surged 8.2 percent in June.
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