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US construction spending unexpectedly fell 0.5% in July to $2.158 trillion, hitting a nearly three-year low
The Commerce Department's Census Bureau reported on Tuesday that the July decline, the lowest level since October 2023, was primarily due to higher mortgage rates weighing on single-family homebuilding. Residential construction tumbled 1.3%, with single-family housing projects dropping 3.2%. Spending on factory projects also fell 0.8% as the boost from the 2022 CHIPS and Science Act fades.
Source：Yahoo财经 · Source Link
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