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U.S. construction spending falls 2.5% in December

U.S. construction spending falls 2.5% in December (by Jeffry Bartash)

WASHINGTON (MarketWatch) - Construction spending fell 2.5% in December, marking the second decline in a row, the Commerce Department reported Tuesday. Economists surveyed by MarketWatch had forecast spending to rise 0.1%. Spending for November was also revised lower, to a decline of 0.2% from an originally reported gain of 0.4%. For all of last year, construction spending ended up 10.3% lower compared to 2009.