Construction Spending Falls 0.4%

Construction spending fell 0.4% in May, the Commerce Department said Tuesday.

The downturn followed a revised 0.1% gain in April that was smaller than originally reported, Commerce said.

Economists had forecast a 0.6% decline, Bloomberg reported.

Private residential construction fell 1.6%, the 25th drop in 26 months.

Private non-residential construction projects rose 0.2%.

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