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Construction News

08-02-2008

U.S. June construction Spending Falls 0.4%

Robert Schroeder
MarketWatch

WASHINGTON (MarketWatch) -- Spending on U.S. construction projects fell by 0.4% in June, the Commerce Department reported Friday, pulled lower by weaker outlays on housing and state and local construction. Economists surveyed by MarketWatch were expecting construction spending to decline by 0.3% in June. Year over year, construction spending is down by 5.9%. Private residential construction fell by 1.8% in June, continuing a long decline that reflects the weak housing market. State and local construction spending declined by 0.4%.

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