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Construction Spending Drops Save Email Print
Posted: 11:44 AM Aug 1, 2008
Last Updated: 11:44 AM Aug 1, 2008

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The government says construction spending in June posted the 11th decline in the past 13 months.

The Commerce Department says spending dropped 0.4 percent in June, in line with expectations.

Home building posted the 15th straight drop. Builders have continued to cut back on their activity to cope with the severe housing slump and credit crisis.

Weakness in housing activity offset strength in other building activity. There was a big increase in building activity for hotels and motels and and a number of other commercial building projects.

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