Construction Spending Falls 1% in October
onstruction spending posted its biggest decline in five years, falling 1% in October as residential construction continued its downward trajectory, the Commerce Department said Friday.
The drop followed a revised 0.8% drop in September that was larger than initially reported, Commerce said.
Residential construction, meanwhile, plunged 1.9%
Construction spending can boost demand for trucking services because spending increases the number of shipments of goods and building materials.
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