US June construction spending.
The US June construction spending came in much weaker than expectations.
- Construction spending -1.3% vs +0.4%. Big miss to the downside
- The prior month was revised higher to +0.3% from 0.0% reported earlier
- Private construction spending drops -0.1%
- Private residential construction spending drops -0.2%
- Public construction spending tumbles -5.4%
- Public construction outlays lowest since Feb 2014
- Highway construction was down -6.6% from May
- Educational construction was down -5.5% from May
Judging from the public spending changes in the public sector, infrastruture stimulus is not exactly roaring ahead yet or over the last year.
