Construction spending slips 0.6% in June

08/2/2013 | American City Business Journals · Reuters

Declines in June in outlays for single-family and multifamily construction and public infrastructure resulted in a 0.6% slide in construction spending, according to an analysis of Census Bureau data by the Associated General Contractors of America. "The major private nonresidential segments show divergent trends," said Ken Simonson, AGC’s chief economist. "Power construction ... oil and gas fields and pipelines as well as electricity, climbed for the fifth straight month in June ... Meanwhile, the largest public categories -- highways and education construction -- are now plummeting at double-digit rates," he said.

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American City Business Journals · Reuters

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