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    2019
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US construction spending drops in December

US construction spending drops in December

US construction spending drops in December

The US Commerce Department said that U.S. construction spending unexpectedly fell in December. Both private and public projects saw a drop in investment during the month, Reuters reports.

According to the department, construction spending declined 0.6%, following a 0.8% increase in November.

Economists polled by Reuters were expecting a 0.2% increase in construction spending in December.

However, construction spending rose 1.6% on a year-on-year basis in December. It rose 4.1% in 2018, the weakest reading since 2011.

Source: Chicago Construction News US construction spending drops in December

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