Mumbai, Aug. 4 -- The US Commerce Department released a report on Friday showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending dropped by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May. The continued decrease pulled construction spending down to its lowest level since hitting an annual rate of $2.123 trillion in September 2023. The latest decline came as spending on private construction fell by 0.5 percent to an annual rate of $1.622 trillion in June.
Published by HT Digital Content Services with permission from Capital Market....