Construction Spending Falls for Second Straight Month

Construction spending fell for a second straight month in April, the Commerce Department said Monday.

The 0.4% downturn followed a revised 0.6% gain in March that smaller than originally reported, Commerce said.

Economists had forecast a 0.6% decline, Bloomberg reported.

Private residential construction fell 2.3%, following a 3% drop. Non-residential construction, including public projects, rose 0.7%.

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