U.S. Construction Spending Rises Modestly in June

Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday.

An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion.

The May reading was revised upwards to show a 0.2% decline, versus an initial estimate of a 0.3% decrease.

Spending on residential construction added 1.1%, public spending on construction projects decreased by 1.2%.

On the other hand, spending on non-residential construction leveled down by 0.7%.

On an annual level, spending on residential construction surged by 28.8%, while spending on nonresidential construction fell by 6.6%.