Construction Spending Drops 0.3% in September

Construction spending fell 0.3% in September, the Commerce Department said Monday.

The downturn a revised 0.3% gain the prior month, Commerce said. Economists had forecast a 0.8% decline, Bloomberg reported.

Private residential construction fell 1.3%,  while private non-residential construction projects fell 1.2%.

Total non-residential construction, including public projects, rose 1.2%, led by work on manufacturing plants, power plants and schools, Bloomberg said.

Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.