Construction Spending Right In Line, Up 0.4%

Joplin Missouri Sky Home House Building Construction

Photo: Joe Raedle/Getty Images

UPDATE:Construction spending grew in line with expectations in June, up 0.4 per cent new data from the Census Bureau shows.

At that pace, spending climbed to an annualized pace of $842.1 billion.

May figures were revised higher, to a 1.6 per cent gain.

Private and residential construction continued to boost the headline figures, up 0.7 and 1.3 per cent, respectively. 

ORIGINAL:

Construction spending is expected to grow at a slower pace in June.

Economists polled by Bloomberg forecast spending grew 0.4 per cent, below the 0.9 per cent expansion logged in May.

The announcement is scheduled for 10:00 a.m.

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