National

Outlays for construction projects fell 0.7% in June, the fourth straight month spending outlays have fallen, according to the Commerce Department. 

By the numbers: Residential construction fell 1.5%, while spending on public construction projects dropped 0.7%. 

Yes, but: Construction spending overall is still up from its 2019 levels — one of the few industries that has held up dollar for dollar from its 2019 numbers through the coronavirus pandemic.

Even after four straight months of declines, spending is up 0.1% from where it was in June 2019.

And construction spending at the end of June was 5% higher than it was through the first six months of 2019.

Construction spending falls for 4th straight month

But the sector overall is still up from its 2019 levels.

Construction in New York. Photo: John Lamparski/SOPA Images/LightRocket via Getty Images

Business

Construction

Outlays for construction projects fell 0.7% in June, the fourth straight month spending outlays have fallen, according to the Commerce Department. By the numbers: Residential construction fell 1.5%, while spending on public construction projects dropped 0.7%.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Construction spending falls for 4th straight month

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