June U.S. Construction Spending Falls

U.S. construction spending in June was estimated at a seasonally adjusted annual rate of $1.76 trillion, down 1.1% from May and an 8.3% increase over the year prior. Private construction spending was $1.42 trillion, 1.3% lower than May’s seasonally adjusted annual rate. Residential totals for June dropped 1.6% from the previous month to $923.7 billion and non-residential totals dipped 0.5% from May at $492.7 billion.  See U.S. Census Bureau