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July construct spending -0.6% vs +0.5% and..>

US DATA
US DATA: July construct spending -0.6% vs +0.5% expected, and June 
construct rev down moderately to -1.4% (prev -1.3%), but May construct 
rev up to 1.6% (prev +0.3%). Private spending -0.4%, with private 
residential building +0.8% and nonresidential building -1.9%. Private 
1-family home construct +0.8% but multi-family -0.8%. Residential 
construct excluding new homes +1.4% from a rev up +0.7% in June, 
according to an MNI calculation. For private nonresidential construct, 
there were declines in all categories. Public construct -1.4%, with 
state and local govt construct -1.4% and Federal construct -1.2%. See 
MNI main wire.  

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