- U.S. construction spending barely rose in July as a rebound in investment in p...
WASHINGTON, - - U.S. construction spending barely rose in July as a rebound in investment in public construction projects was offset by a decline in the private sector.
Economists polled by Reuters had forecast construction spending would rise 0.3% in July. Construction spending fell 2.7% on a year-on-year basis in July. Spending on private construction projects dipped 0.1% in July, reversing June’s 0.1% gain. Investment in private residential projects rose 0.6%, the most in eight months, after being unchanged in June.
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