Earlier this month the Commerce Department reported U.S. construction spending fell 2.1% in May, with both home building and nonresidential activity declining.
The construction industry has been rocked by shutdowns. With cases rising again in many parts of the country, particularly in the Sunbelt which has driven the housing market for years, home building and commercial projects face are at threat.
But projects are moving ahead where possible, driven by extremely low mortgage rates. The U.S. reported last week that sales of new homes rose 13.8% in June, the second consecutive monthly increase.
Economists say sales could continue to rebound, but that depends on the course of COVID-19 outbreaks.
Some states that had attempted to restart their economies are rolling back those efforts as cases surge.