WASHINGTON — Construction spending in July rose by 0.6%, a bit more than expected, overcoming a dip in public construction spending to reach its highest level in a little over five years, data released by the Commerce Department Tuesday morning showed.

Construction spending hit $900.8 billion in July, the highest since June 2009. After declining by 0.2% in June, private construction spending rose 0.9% to $631.4 billion, the highest since February 2009. Within that, the pace of private residential construction spending has slowed in recent months, but was still up 0.6% in July to $334.6 billion, the highest since September 2008.

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.