US construction spending drops 0.6% in June

Spending on construction in the US fell 0.6% in June  to a seasonally adjusted annual rate of $1.11T, the least in a year, the Commerce Department said Monday.

Reading came in below forecast of a 0.6% increase, while May's initially reported decline was revised from 0.8% to 0.1%.     

June’s declines were evenly spread across the private and public sectors.