DATE: Tuesday, August 5, 1997               TAG: 9708050236

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

                                            LENGTH:   15 lines

CONSTRUCTION SPENDING SLIPS

Construction spending slipped 1.1 percent in June after four consecutive monthly gains, pulled down by declines in housing and commercial building. The drop to a seasonally adjusted annual rate of $591.5 billion, reported Monday by the Commerce Department, didn't cause analysts concern. The June decrease followed advances of 0.3 percent in May and 0.4 percent in April. It was the first drop since January and the steepest since December.

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