The USA construction spending rises more than expected in July

The USA Department of Commerce announced construction spending data for July.

Accordingly, construction expenditures in the country increased by 0.3 percent in July compared to the previous month and amounted to 1.57 trillion dollars.

Construction expenditures, which increased above market expectations, were expected to increase by 0.2 percent in this period. Construction expenditures increased by 0.1 percent in June.

In the said period, private sector construction projects increased by 0.3 percent, while public construction expenditures increased by 0.7 percent.

Construction expenditures increased by 9 percent on an annual basis.