Construction Spending Off 0.4 Percent

Investor's Business Daily (06/03/08) P. A1
The Commerce Department reports an 0.4-percent drop in construction outlays in April, following a 0.6-percent decline in March that was revised from a 1.1-percent decrease. Residential construction activity fell for the 26th consecutive month, slipping 2.1 percent. Private nonresidential building was up 1.6 percent, however, while spending on public construction dipped 0.3 percent.