US construction spending fell -0.4% MoM in June, below expectations of no growth. The annual decline improved slightly to -2.9% YoY.

• Residential spending dropped -0.7% MoM and -6.0% YoY, and nonresidential spending eased -0.1% MoM and -0.5% YoY.
• Private construction spending fell -0.5% MoM and -5.2% YoY as private residential construction spending (-0.7% MoM) and private nonresidential construction spending (-0.3% MoM) both declined.
• Public construction spending increased 0.1% MoM with public nonresidential spending up 0.1% MoM and public residential spending down -1.0% MoM.
• Office and commercial construction spending both continued to decline, down -1.2% MoM and -0.7% MoM, respectively.