India, Sept. 1 -- Partly reflecting a steep drop in spending on residential construction, the Commerce Department released a report on Tuesday showing construction spending in the U.S. unexpectedly decreased in the month of July.
The report said construction spending fell by 0.5 percent to an annual rate of $2.158 trillion in July after coming in virtually unchanged at a revised rate of $2.168 trillion in June.
Economists had expected construction spending to inch up by 0.1 percent compared to the 0.1 percent dip originally reported for the previous month.
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