US construction spending rises strongly in June

U.S. construction spending increased solidly in June and the prior month’s data was revised higher, boosted by outlays in both single and multifamily housing projects.

The Commerce Department said on Tuesday that construction spending rose 0.5%. Data for May was revised higher to show construction spending surging 1.1% instead of 0.9% as previously reported. Economists polled by Reuters had forecast construction spending increasing 0.6%.

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