Construction spending in the U.S. sagged 1.1 percent in June to $1.31 billion compared with May, but grew 6.1 percent compared with June 2017, according to the U.S. Census Bureau.
June total residential construction spending fell 0.5 percent from May to $574.8 million, an 8.7 percent increase compared with June 2017. Nonresidential construction dropped 1.6 percent but grew 4.2 percent compared with the previous year.
Private construction dipped 0.4 percent during June compared with the month prior, and public construction spending fell 3.5 percent; both categories saw increases compared with the prior year, however, with private construction growing 6.5 percent and public construction up 4.9 percent.
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