Reflecting a decrease in spending on public construction, the Commerce Department released a report on Friday showing an unexpected dip in U.S. construction spending in the month of May.
The report showed construction spending edged down by 0.1 percent to an annual rate of $1.780 trillion in May after climbing by 0.8 percent to an upwardly revised rate of $1.783 trillion in April.
The modest decrease came as a surprise to economists, who had expected construction spending to rise by 0.4 percent compared to the 0.2 percent uptick originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.