US construction spending for May 0.4% vs. 0.5% expected - ConsultFX

US construction spending for May 0.4% vs. 0.5% expected

Last month spending rose 0.9% - revised lower from 1.8% The US construction spending for May comes in lower than expectations at 0.4% vs 0.5% expected. The revision in the April data could lead to a further reduction in 2Q GDP estimates.  On Friday, the GDP growth numbers were slashed after lower consumer spending in May.