U.S construction investment suffers biggest drop since 2002

Investment in public U.S construction projects in June 2017 fell “unexpectedly” in the biggest drop since 2002, a report has found. In a report from The Commerce Department, also revealed that construction spending had fallen by 1.3%, meaning the overall figure stood at $1.21 trn, which was also the lowest level since 2016. This comes at a time where economists had estimated that construction spending would increase by 0.4% in June, following an unchanged May.

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Source: Construction Global

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