December Construction Spending Rises 0.1%

Construction spending rose 0.1% in December, the Commerce Department said, 5.3% above the December 2012 level.

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In November, construction spending rose a revised 0.8%, first reported as a 1.0% increase.

Spending on private construction rose 1.0% in the month, while public construction fell 2.3%.

Residential construction grew 2.6% and one-family housing gained 3.4% in the month.

Multi-family housing increased 0.5%.

Economists polled by Thomson/Reuters predicted a 0.2% gain in construction.


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