Construction Spending Falls in June

Washington DC, Aug. 1, 2013 --  Construction spending unexpectedly declined in June, the Commerce Department said.

Spending fell 0.6% in June to an annualized rate of $883.9 billion.

Analysts were expecting a gain of 0.5%.

However, May construction spending was revised higher to 1.3% growth from the initial read of a gain of 0.5%.

Both private and public spending fell in June.

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