Spending on construction projects fell 0.6% to a seasonally adjusted annual rate of $1.084 trillion in July as private construction decreased 1.4% and public construction rose 1.4%, according to Commerce Department figures released yesterday.

The overall decrease, which was larger than the 0.3% drop projected by IFR Markets, and followed a revised June level of $1.091 trillion, up 0.3% from the prior month, originally reported as a 0.4% drop to $1.082 trillion.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.