Construction Spending Slows Down In December

U.S. construction spending barely rose in December as spending on nonresidential structures recorded its biggest drop since 2013, suggesting a mild downward revision to the advance fourth-quarter GDP growth estimate. Construction spending ticked up 0.1 percent after a downwardly revised 0.6 percent drop in November, the Commerce Department said on Monday. Overall, private construction spending fell 0.6 percent in December. [READ MORE]