Construction Spending Increases 0.4% in April

The increase followed a revised 0.1% gain in March that was smaller than previously estimated, Commerce said.

The April upturn topped economists’ forecasts of a 0.3% increase, Bloomberg reported.

Private construction spending rose 1.7%, while homebuilding spending gained 3.1%.

Public construction spending slid 1.9% as state and local government projects declined. Federal construction spending fell 2% in April, as it did the previous month.

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