It may signal a return to typical demand patterns after two years of solid gains driven by foreign investment.
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Indices for new orders and employment had solid month-to-month gains, while production, inventories and prices had notable declines.
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Automotive powered much of the gain, which was a strong rebound after declines in June and May.
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Downward pressure on nonresidential spending is likely to only intensify, and the situation looks even worse when adjusting for inflation.
Heating, Air-conditioning & Refrigeration Distributors International released its monthly TRENDS report reflecting the month of June.
It was the slowest expansion since June 2020 as prices took a major month-to-month decline while employment posted improvement.
The U.S. Census Bureau announced data for international trade, wholesale inventories and retail inventories advance for June 2022.
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For the first time since summer 2020, both single-family starts and permits fell below a 1 million annual pace, NAHB says.
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The Producer Price Index for final demand increased 1.1% in June compared to the prior month, the Bureau of Labor Statistics reported.
May orders were down 14% from April 2022 but nearly equal to May 2021 orders with a modest 1% decline.
The deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April, the Census Bureau and Bureau of Economic Analysis said.
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