U.S. construction spending rises in June

Investment in U.S. construction edged up by 0.5 percent in June, the U.S. Commerce Department reports, almost in line with analyst expectations of a 0.6 percent hike. Residential construction spending rose by 0.9 percent, building on a 2.9 percent gain in May. That month’s overall increase was revised upward to 1.1 percent from the preliminary estimate of 0.9 percent. Investment in the single-family sector logged a 2.1 percent spike in June.