FX.co ★ Construction Spending Fell 1.4% In December

Construction Spending Fell 1.4% In December

(RTTNews) - Reflecting continued weakness in the housing market, the Commerce Department released a report on Monday showing that construction spending in the month of December fell by much more than economists had been expecting.

The report showed that construction spending fell 1.4 percent to an annual rate of $1,053.7 billion in December from a revised November estimate of $1,068.8 billion. Economists had been expecting a somewhat more modest decrease of about 0.9 percent.

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