Construction spending rose 0.5% in June, the U.S. Commerce Department reported Tuesday.
Construction spending rose in June, as companies and the government increased projects across the U.S.
The figure fell short of expectations on Wall Street. Economists were expecting construction spending to rise 0.9% in June. Spending on construction projects rose 0.5% in June to $1.94 trillion, the Commerce Department reported Tuesday. Construction spending reveals how much the government and private companies spend on projects, from housing to highways. The more the U.S. spends on construction, the higher the level of economic activity.
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