Construction spending rises 0.4% in April

WASHINGTON (MarketWatch)
Construction spending rose 0.4% in April to a seasonally adjusted annual rate of $860.8 billion, the U.S. Department of Commerce said Monday
Economists polled by MarketWatch had expected April's rate to rise 1%
Nonresidential construction spending, which includes projects such as health-care facilities, rose 0.7%, while residential construction spending fell 0.2%
March's growth rate was revised to a decline of 0.8%, compared with a prior estimate of a 1.7% drop
Spending in April was 4.3% higher than the same period in 2012