US construction spending falls 0.1pc in July

(Sharecast News) - US construction spending fell in July, marking the ninth consecutive monthly decrease. Construction spending decreased by 0.1% month-on-month in July, according to the Census Bureau, coming in at $2.13bn, in line with expectations.

Private sector spending dropped 0.2% in July, with the non-residential segment shrinking by 0.5%, while amusement and recreation buildings saw the steepest drop at 1%. On the other hand, residential construction rose by 0.1% month-on-month.

On an annualised basis, construction spending slumped 2.8% in July.







Reporting by Iain Gilbert at Sharecast.com