Total construction spending in the US fell 1.1% in June. Analysts at Wells Fargo point out that construction spending data were slightly weaker than assumed in Q2 GDP. Key Quotes: “Admittedly volatile on a monthly basis and prone to substantial revisions, total construction spending unexpectedly declined as the second quarter came to a close. June’s 1.1 percent decline was driven by a 3.5 percent drop in public construction, though the contraction was also seen in private residential (-0.5 percent) and private nonresidential (0.3 percent).” “Extended overall economic growth should remain supportive to the construction sector in the second half of the year. That said, rising interest rates, higher material costs and labor scarcity will continue to challenge the construction sector.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canadian official: US, Canada, Mexico are “very close on auto rules of origin” in NAFTA talks FX Street 5 years Total construction spending in the US fell 1.1% in June. Analysts at Wells Fargo point out that construction spending data were slightly weaker than assumed in Q2 GDP. Key Quotes: "Admittedly volatile on a monthly basis and prone to substantial revisions, total construction spending unexpectedly declined as the second quarter came to a close. June's 1.1 percent decline was driven by a 3.5 percent drop in public construction, though the contraction was also seen in private residential (-0.5 percent) and private nonresidential (0.3 percent)." "Extended overall economic growth should remain supportive to the construction sector in the second… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
