CONSTRUCTION SPENDING ROSE 0.1% IN JULY

U.S. construction spending ticked up just 0.1% in July, aided by government spending on schools, sewers and the water supply.

The Commerce Department said Tuesday that spending on construction projects in July occurred at a seasonally adjusted annual pace of $1.29 trillion. So far this year, construction spending has tumbled 2.1%, dragged down by a sharp pullback in expenditures for homebuilding.

Construction for singlefamily houses picked up 1.4% in July, a possible response to lower mortgage rates. But private spending on the building of apartments, lodging and commercial spaces fell. Overall, private construction spending slipped 0.1%.

Group estimates trade dispute to cost Nebraska farmers $943M.

The Nebraska Farm Bureau estimates the ongoing trade dispute will cost the state’s farmers $943 million in lost revenue this year, but those losses will be partly offset by aid payments from the government.

Nebraska Farm Bureau economist Jay Rempe said Tuesday the lost revenue will add to the financial pressure on farmers in the state and hurt Nebraska’s economy because so many communities rely on farmers’ spending.

Lego aims to expand sales in China, India.

» Toymaker

P E N HAGE N

Lego said Tuesday its revenue rose 4% in the first half of 2019, but significant investments to grow its business in China and India led to a 12% drop in net profit.

The privately held company reported first-half revenue of $2.2 billion, while net profit dropped to $400 million.

CEO Niels B. Christiansen said that the investments were meant to grow existing operations, open new markets in China and India, and develop online sales platforms, among other things.

Canadian consumer confidence posts biggest dive this year.

Canadian consumer sentiment recorded its biggest monthly setback this year in August, amid growing concerns about the global economic outlook, polling suggests.

The Bloomberg Nanos Canadian Confidence Index — a composite indicator derived from phone surveys of households — ended the month at 56.4, down from 58.6 at the end of July. The drop reflects waning optimism about Canada’s economy.

It marks the first drop in the index of more than 2 points since November.