Government sector falls but private construction rises
Construction spending in June slipped 1.3% from the previous month’s level, to an estimated $1.206-trillion annual rate but the total rose 1.6% year over year, the Commerce Dept. has reported.
Commerce’s U.S. Census Bureau said on Aug. 1, in its latest monthly report on construction put in place, that the nonresidential sector fell 2% from May and 3.1% from June 2016, to an annual rate of $697 billion.