Mumbai, July 2 -- Construction spending in the U.S. decreased by slightly more than expected in the month of May, according to a report released by the Commerce Department on Tuesday.
The Commerce Department said construction spending fell by 0.3 percent to an annual rate of $2.138 trillion in May after slipping by 0.2 percent to a revised rate of $2.146 trillion in April.
The continued decrease in construction spending came as spending on private construction slid by 0.5 percent to an annual rate of $1.627 trillion.
Spending on residential construction decreased by 0.5 percent to an annual rate of $888.9 billion, while spending on non-residential construction declined by 0.4 percent to an annual rate of $737.7 billion.
Meanwhile, the C...