Construction Spending Rises 0.4% in April
Construction spending increased 0.4% in April, the Commerce Department reported Monday.
The increase brought outlays to $860.8 billion and followed a 0.8% decline in March that was smaller than originally reported, Commerce said.
Economists had forecast a 0.9% increase, Bloomberg News reported.
Government projects dropped by 1.2%, the biggest decline since October 2006, Bloomberg reported.
Private construction spending rose 1% to the highest spending level since December 2012.
Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.
