US construction spending declines 0.7% in June
By MATT OTT AP Business Writer
SILVER SPRING, Md. (AP) — U.S. construction spending fell again in June, the fourth straight decline as the coronavirus outbreak continues to wreak havoc on the economy. The Commerce Department said Monday that spending on U.S. construction projects fell 0.7% in June as both home building and nonresidential activity declined. The construction industry has been hammered by pandemic-forced shutdowns and as cases rise again in parts of the country, there are concerns about further declines in coming months. Analysts had expected a turnaround in spending in June as many parts of the country reopened, but it did not happen. May’s number, however, was revised upward.
US construction spending declines 0.7% in June
