Construction Spending Falls 0.6% in November

Construction spending fell 0.6% in November, the Commerce Department said Monday.

The decline follows a revised 0.5% drop in October that was originally reported as flat from the previous month, Commerce said.

November marked the seventh straight downturn and left spending at the lowest level in six years. Spending was forecast to drop 0.5%, Bloomberg reported.

Private residential construction fell 1.6%, while spending on non-residential construction projects fell 0.2%. Public construction declined 0.4%.

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