U.S. Dec. construction spending up 1.5%
U.S. Dec. construction spending up 1.5% (by Ruth Mantell)
WASHINGTON (MarketWatch) -- Outlays for U.S. construction projects rose 1.5% in December from November, the Commerce Department reported Wednesday. Economists polled by MarketWatch had expected an increase of 0.3%. Spending on private construction rose 2.1%, with private residential construction up 0.8%. Spending on public projects rose 0.5%. Construction spending in November was revised down to a gain of 0.4% from a prior estimate of a 1.2% increase.