US construction spending down slightly in December

US construction spending was down slightly at 0.6% in December with declines in residential construction and government projects. Despite the small dip, construction spending for all of 2018 reached record levels, though it was the smallest increase seven years.

The December decline followed a 0.8% rise in November, the Commerce Department reported Monday. Residential construction fell by 1.4%, showing continued struggles in the housing sector. Nonresidential activity rose 0.4%, while spending on government projects fell 0.6%, with both federal and state and local activity falling.

Contributor

Allana|Expert

Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.