US construction spending for July comes in at 0.0% vs. 0.5% estimate

The July Construction spending was flat on the month BUT the prior month was revised much higher at +0.9% vs -0.6% originally reported. So although a shock from the headline, with the revision, you can say it was better than the estimates at least. 

• Private construction rose 1.0% in July, with residential up 0.3%.  Nonresidential construction rose 1.7% to a record high.  
• Public construction fell 3.1% in July.
• Govt construction declines with State and local construction falling -3.1% and Federal construction falling -3.3%.  
• Private residential home improvements rose 1.5% in July

The ISM release is getting most of the press as it came in softer than expectations. The dollar has gotten hit across the board on the news.