U.S. construction spending dips in May

Construction spending in the U.S. experienced a slight downturn in May, falling by 0.1 percent to an annual rate of $2.1 trillion, according to the U.S. Commerce Department. That follows a rise of 0.3 percent in April. The decrease came as spending on private construction fell by 0.3 percent. Spending on residential construction inched down by 0.2 percent to an annual rate of $918.2 billion.