Spending on construction across the U.S. unexpectedly declined in June.
Total U.S. construction spending decreased 1.3% from May to a seasonally adjusted annual rate of $1.206 trillion, the Commerce Department said Tuesday.
Continue Reading Below
Economists surveyed by The Wall Street Journal had expected 0.5% growth in June.
The data were not adjusted for inflation.
Public spending plunged 5.4% from May, its largest one-month drop since March 2002, to the lowest dollar level since February 2014. Private spending on construction ticked down 0.1% in June.
In the first half of 2017, overall construction spending rose 4.8% compared with a year earlier. Private spending rose 8% while spending by government agencies fell 5.4%.
The Commerce Department's latest report on construction spending can be accessed at:
Write to Ben Leubsdorf at email@example.com
(END) Dow Jones Newswires
August 01, 2017 10:24 ET (14:24 GMT)