Dec. Construction Spending Grows 0.4%

Construction spending increased 0.4% in December, the Commerce Department said Monday, and is 2.2% above the December 2013 level.

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In November, construction spending fell a revised 0.2%, first reported as a 0.3% decrease.

Spending on private construction grew 0.1% in the month, while public construction rose 1.1%.

Residential construction gained 0.3% and single-family housing climbed 1.2% in the month.

Multi-family housing increased 0.3%.

Economists polled by Thomson Reuters predicted a 0.7% rise in construction spending.


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