Construction Industry Decline
Construction spending fell in June, leading to a decline in the construction industry. Residential and nonresidential sectors both experienced decreases in spending. Government spending also decreased. Despite the decline, the construction sector has added 235,000 jobs over the past year.
Key Points
- Construction spending fell in June
- Residential construction spending declined by 0.3%
- Manufacturing construction spending rose by 0.1%
- Government spending fell by 0.4%
Cons
- Decrease in construction spending
- Decline in residential and nonresidential construction
- Government spending fell