Construction project costs rose slightly 0.1% in June and at a seasonally adjusted annual rate of $ 1.55 trillion, said the Department of Commerce on Monday. Economists surveyed by the Wall Street Journal had expected 0.5% growth.
Expenditure in May was slightly revised downwards by 0.2%, compared to a previous estimate of 0.3%.
In line with recent trends, housing construction was stronger than non-residential and public sector.
Housing construction grew by 1.1% in June, while expenditure on public construction projects fell by 1.2%. Non-residential construction fell by 0.7% last month.
Over the past year, housing spending has risen by 28.8%, while non-housing spending has fallen by 6.6%, while spending on education and prayer houses has fallen.
Shares jumped open Monday with the Dow Jones industrial average
at the beginning of trading increased by 172 points.