US CONSTRUCTION SPENDING SLIPS AGAIN IN APRIL

U.S. construction spending fell unexpectedly for a second consecutive month in April on declines in non-residential activity, though outlays for single-family home building climbed to the highest since August 2022.

The Commerce Department's Census Bureau on Monday said construction spending fell 0.1% after slipping 0.2% in March. Economists had forecast construction spending would gain 0.2%. Construction spending increased 10% on a year-on-year basis in April. Spending on private construction projects fell 0.1% in April, led by declines in commercial projects. Public project spending fell 0.2%, with the two largest categories - educational and highway construction - both showing declines.

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