Spending on construction projects fell 0.9% to a seasonally adjusted annual rate of $964.0 billion in May as private construction decreased 1.0% and public construction slid 0.6%, according to Commerce Department figures released yesterday.

The overall decrease, which follows the 0.5% decrease projected by Thomson Reuters, followed a revised April level of $972.5 billion, a 0.6% increase from the prior month.

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