U.S. construction spending hits six-month low in March

U.S. construction spending fell in March to a six-month low as outlays on private residential construction spending declined sharply, which could add to concerns about the economy's ability to rebound strongly from the first-quarter's soft patch. Construction spending slipped 0.6 percent to an annual rate of $966.6 billion, the lowest level since September, the Commerce Department said on Friday. Economists polled by Reuters had expected construction spending to rise 0.5 percent in Mar