Construction Spending Down

 

Jan. 31, 2007 -- Total construction spending fell by 0.4 percent in December, while spending for the year rose by 4.8 percent over 2005, the Commerce Department said Wednesday.

Spending on private construction projects in December declined by 0.8 percent from the previous month, dropping to a seasonally adjusted annual rate of $896.8 billion, the report said.

The total value of private construction last year was $928.7 billion, a 3.3 percent increase from 2005, the report said.

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