US construction spending falls 0.3% in June

Figure up 6.2% on annual basis, says Commerce Department

By Ovunc Kutlu

ISTANBUL (AA) - US construction spending fell 0.3% to $2,148.4 billion in June, the Commerce Department's figures showed Thursday.

Construction spending, one of the major indicators of well-being in the construction sector, was expected to show a monthly increase of 0.2%, according to market estimates.

The figure for May was revised to $2,154.8 billion for a monthly decline of 0.4%, from a monthly decrease of 0.1% in April.

Annually, the reading in June was 6.2% above the same month in 2023 when it stood at $2,023 billion.

"During the first six months of this year, construction spending amounted to $1,034.8 billion, 8.6 percent above the $952.5 billion for the same period in 2023," the Commerce Department said.

Kaynak:

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