Construction Spending |Falls for Third Month

(CN) - U.S. construction spending fell for the third straight month in June, with the fall being most pronounced in the nonresidential building sector.

The Commerce Department said Monday that construction spending declined by 0.6 percent in June following declines of 0.1 percent in May and 2.9 percent in April.

Nonresidential construction saw the biggest drop, declining by 1.3 percent its sharpest decline since December.

Government spending on construction fell 0.6 percent, the fourth straight decline, with both federal and state and local construction activity slowing down.

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