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Construction spending data missed expectations, falling 0.6% in June.
One of the notable drags on construction was the decline in spending on religious constructions, which was down 6.8% on the month, and 12.2% on the year.
A further breakdown, shows that private religious construction spending was down 7.3% on the month and 12.7% on the year.
But construction spending on religious institutions has been on a long-term, secular decline for some time now.
St. Louis Fed/Business Insider