Real residential investment in the U.S. is set to shrink 4.8 percent in the third quarter, while the nonresidential outlay will remain unchanged, Oxford Economics said Tuesday following the release of the official construction spending figures for July.
The Commerce Department report showed that construction spending fell by 0.3 percent to an annual rate of $2.163 trillion in July, while economists had expected construction spending to come in unchanged.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.