Construction Spending Off in April

Washington, DC, June 2, 2006–Construction spending fell 0.1% in April, dragged down by a 1.1% drop in spending on home construction, the Commerce Department said Thursday.

It’s the lowest level for spending on private residential construction projects since January 2004.

Economists were expecting a 0.2% increase in construction spending for the month.

Outlays in March were unrevised at 0.9%.