US construction spending fell by 0.1% in June, contrary to economists’ forecasts of a 0.2% increase. This marks a 3.2% year-over-year drop in construction spending. By the numbers: Private construction outlays decreased 0.1%; residential construction investment fell 0.3%. Multi-family housing construction saw a 0.7% decline in June, though residential investment rebounded in Q2 after five quarters of contraction. Go deeper: Private nonresidential construction spending edged up 0.1%, but investment in factory projects dropped 1.2%.