Construction Spending Barely Beat expectations

Construction spending in the United States increased by 0.3 percent month over month in July 2021 to a seasonally adjusted annual rate of USD 1.569 trillion, up from no growth in June and exceeding market estimates of a 0.2 percent increase.

Private construction spending climbed by 0.3 percent, while public construction spending increased by 0.7 percent, driven by increases in power (2.3 percent), highway and street (1.9 percent), and commercial development (0.7 percent) (1.7 percent)