Mumbai, June 3 -- A report released by the Commerce Department on Monday unexpectedly showed a continued decrease by U.S. construction spending in the month of April.
The Commerce Department said construction spending fell by 0.4 percent to an annual rate of $2.152 trillion in April after shrinking by 0.8 percent to a revised rate of $2.162 trillion in March.
The unexpected decrease by construction spending came as spending on private construction slid by 0.7 percent to an annual rate of $1.639 trillion.
Spending on residential construction slumped by 0.9 percent to a rate of $892.8 billion, while spending on non-residential construction fell by 0.5 percent to $746.0 billion.
Meanwhile, the report said spending on public construction in...