Getty Images Workers install windows in a townhome complex under construction in Chicago, Illinois.
The numbers: Construction expenditures were 0.1% higher in July than in June, led by the public sector, the Commerce Department said Tuesday. Outlays in July were 5.8% higher than a year ago.
What happened: All of the strength in July came from public works, which rose 0.7% during the month. Spending on private construction ticked down 0.1% for the month. Residential construction increased 0.6% compared to the prior month, and was 6.6% higher than a year ago.
The July figure missed the Econoday forecast of a 0.4% monthly increase.
Read: Here’s why America’s houses are getting older
Big picture: The government’s construction spending data is choppy, but the overarching trend is up. Through the first seven months of the year, expenditures were 5.2% higher than in the same period in 2017.
Market reaction: The Dow Jones Industrial Average DJIA, -0.30% was down moderately in mid-morning trading even as a key manufacturing gauge hit its highest level since 2004.
Also see: Home sales hit a fresh low in July as housing market looks for direction
