Construction Spending Falls 1% in October

onstruction spending posted its biggest decline in five years, falling 1% in October as residential construction continued its downward trajectory, the Commerce Department said Friday.

The drop followed a revised 0.8% drop in September that was larger than initially reported, Commerce said.

Residential construction, meanwhile, plunged 1.9%

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