US construction spending edges up in July
U.S. construction spending barely rose in July as a rebound in investment in public construction projects was offset by a decline in the private sector. The Commerce Department said on Tuesday construction spending edged up 0.1%. Data for June was revised up to show construction outlays decreasing 0.7 instead of falling 1.3% as previously reported. Economists polled by Reuters had forecast construction spending would rise 0.3% in July. Construction spending fell 2.7% on a year-on-year basis in July.
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