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.