Construction spending in the U.S. unexpectedly decreased in the month of June, the Commerce Department revealed in a report on Tuesday.
The Commerce Department said construction spending tumbled by 1.3 percent to an annual rate of $1.206 trillion in June from the revised May estimate of $1.222 trillion. Economists had expected spending to rise by 0.4 percent.
The unexpected decline in construction spending came amid a steep drop in spending on public construction, which plunged by 5.4 percent to a rate of $265.1 billion.
Spending on educational construction slumped by 5.5 percent to $67.5 billion, while spending on highway construction plummeted by 6.6 percent to $82.4 billion.
The report said spending on private construction also edged down by 0.1 percent to a rate of $940.7 billion in June.
While spending on non-residential construction inched up by 0.1 percent to $437.8 billion, spending on residential construction dipped by 0.2 percent to $502.9 billion.
Despite the monthly decrease, the Commerce Department said construction spending in June was up by 1.6 percent compared to the same month a year ago.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.