With a drop in spending on public construction partly offsetting an increase in spending on private construction, the Commerce Department released a report on Monday showing a smaller than expected increase in total construction spending in the month of April.
The report said construction spending rose by 0.4 percent to a seasonally adjusted annual rate of $860.8 billion in April from the revised March estimate of $857.7 billion. Economists had been expecting spending to increase by about 1.0 percent.
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