Construction Spending Falls on Commercial Weakness
Washington, DC, Aug. 1, 2014 -- Construction spending fell by 1.8% in June, mostly due to lower spending on commercial projects, according to the Commerce Department.
Nevertheless, spending is still up 5.5% from the same time last year.
Construction outlays decreased to an annual rate of $900.3 billion.
Spending for residential properties declined 0.2% while spending on commercial projects fell 2.8%.