Spending on construction projects fell 0.4% to a seasonally adjusted annual rate of $1.085 trillion in May as private construction decreased 0.7%, and public construction rose 0.4%, according to Commerce Department figures released yesterday.

The overall decrease, which was smaller than the 0.5% decrease projected by IFR Markets, followed a revised April decrease of 0.1% to a level of $1.089 trillion.

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