Jul. 31, 2008 (Action Economics delivered by Newstex) -- U.S. Construction Spending Preview: We expect Friday's report to reveal a 0.2% drop in June spending (median same) following the 0.4% decline in May. We project that weakness in residential construction will again overshadow growth in non-residential and public construction. The Q2 report revealed that fixed investment posted an as-expected 2.4% rate of Q2 decline, but with a smaller than assumed 15.6% rate of decline for the residential sector, alongside a down-right robust 14.4% growth clip for nonresidential construction that followed upward back-revisions, but a 3.4% rate of decline for real equipment and software purchases. See the . Newstex ID: ACT-0001-27079662