Spending on construction projects fell 0.4% to a seasonally adjusted annual rate of $1.121 trillion in April as private construction decreased 0.5%, and public construction fell 0.3%, according to Commerce Department figures released yesterday.

The overall decrease, which was smaller than the 0.6% decrease projected by IFR Markets, followed a revised March decrease of 0.6% to a level of $1.126 trillion, originally reported as a 1.1% drop to $1.124 trillion.

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