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المشهد العربي
US Construction Spending Declines
The construction sector in the United States experienced a slowdown in July, with total spending declining to $2.157 trillion from $2.167 trillion in June, marking a monthly decrease of 0.5% and a yearly contraction of 3.8%. This reflects ongoing pressures on the housing sector due to rising mortgage interest rates and increased construction material costs. Private spending fell to $1.614 trillion, while public spending decreased to $543.4 billion. The downturn is attributed to weak demand and higher costs, which are impacting sector growth and the dynamics of the U.S. real estate market.
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