Construction Spending: Spending for new construction dipped...

Construction Spending: Spending for new construction dipped in June but showed signs of stabilizing after a volatile first half, according to a study by F. W. Dodge, a financial information division of McGraw-Hill. Dodge said its index of new construction contracts fell in June to 153 from 156 in May. Spending for new construction totaled $240.72 billion in June, compared to May’s $245.71 billion. Despite the overall decline, Dodge found evidence that construction spending was leveling off after having fallen to a four-year low in April as builders found financing harder to come by.