US DATA: Jun construction spending +0.4, right in-line with the
median expectation of forecasters surveyed by MNI. May was revised to
+1.6% (prev +0.9%) now making it the largest increase since Dec’11 when
it was +2.1%. Prvt constr +0.7% and Public constr was unch. Prvt
Residential constr +1.3%, 1-fam +3.0%, Multi-fam +3.4%. According to an
MNI calculation, Residential ex-new homes -0.8% vs May +3.5%. Prvt
nonresidential constr +0.1% vs May +1.3%. State and local govt constr
spending +0.2% and Fed constr spends -1.6%. Prvt power constr -3.1% and
prvt commercial constr -1.5%.