Construction Spending Falls 0.4%

Construction spending fell 0.4% in June, the Commerce Department said Friday.

The downturn followed no change in the prior month that was earlier revised from a 0.4% drop, Commerce said.

Economists had forecast a 0.3% decline, Bloomberg reported.

Private residential construction fell 1.8%, the 26th drop in 27 months.

Private non-residential construction projects rose 0.8%.

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