U.S. construction spending (monthly rate) in June fell short of expectations: -0.1% vs 0.1%

U.S. June construction spending fell 0.1% m/m, missing the 0.1% forecast. The miss signals weakening economic momentum, potentially boosting expectations for policy easing.

The U.S. construction spending monthly rate for June came in at -0.1%, falling short of the expected 0.1% and down from the previous reading of 0.1%. The data indicate a contraction in construction activity, and the deviation from expectations suggests weakening economic momentum, which may increase market expectations for policy easing.