Construction spending falls
WASHINGTON — Construction spending fell more than expected in May, a sign the problems facing the nation's builders are far from over.
The Commerce Department said that construction spending dropped 0.9 percent in May, nearly double the 0.5 percent decline that economists expected.
Adding to the signs of weakness, activity in the past two months was revised lower. Construction rose 0.6 percent in April, down from the 0.8 percent increase originally reported.
