By Ruth Mantell
WASHINGTON (MarketWatch) -- Construction spending fell 0.9% in July, missing analysts' estimates, to a seasonally adjusted annual rate of $834 billion, the Commerce Department said Tuesday. Analysts polled by MarketWatch had expected a July gain of 0.5%. Private residential construction fell 1.6%, while private nonresidential construction fell 0.9%. Public construction spending fell 0.4%. Compared with July 2011, total construction spending is up 9.3%. Construction spending rose 0.4% in June.
