A report released by the Commerce Department on Monday showed construction spending in the U.S. decreased by more than expected in the month of August.
The Commerce Department said construction spending fell by 0.7 percent to an annual rate of $1.781 trillion in August after sliding by 0.6 percent to a revised rate of $1.794 trillion in July.
Economists had expected construction spending to dip by 0.3 percent compared to the 0.4 percent drop originally reported for the previous month.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.