Construction Spending Declines in June

Construction spending fell 0.6% in June, the first decline in three months, the Commerce Department reported Thursday.

The decline brought outlays to $883.9 billion and followed a 1.3% rise in May that was originally reported as a 0.5% gain, Commerce said.

Economists had forecast a 0.4% increase, Bloomberg News reported.

Housing outlays were little changed at $332.1 billion, and private non-residential projects declined by 0.9%, Bloomberg reported.

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