WASHINGTON (Reuters) - U.S. construction spending
fell more than expected in July to its lowest rate in 10 years,
according to a government report on Wednesday that added to
fears economic growth was stagnating.
The Commerce Department said construction spending dropped
1.0 percent to an annual rate of $805.2 billion, the lowest
since July 2000. June's construction outlays were revised down
to show a 0.8 percent fall, instead of the previously reported
0.1 percent gain.
Economists polled by Reuters forecast construction spending
falling 0.5 percent in July.
(Reporting by Lucia Mutikani; Editing by James Dalgleish)