US construction spending declines 0.7% in June

SILVER SPRING, Md. — U.S. construction spending fell again in June, the fourth straight decline as the coronavirus outbreak continues to wreak havoc on the economy.

Spending on U.S. construction projects fell 0.7% in June as both home building and nonresidential activity declined.

The Commerce Department said today the June drop follows four straight declines, the largest a 3.5% downturn in April.

The construction industry has been hammered by shutdowns forced by the coronavirus pandemic. As cases rise again in many parts of the country, there are concerns about further declines in coming months.